Patna: Team from the Commercial Tax Department (CTD) has detected tax theft worth RS 32 Crore allegedly carried out by three fake trading companies formed based on fake papers, said CTD communiques.
Detailed investigations of this activity and 16 other fake companies identified are still active.
The CTD team invaded the company and trading company in 23 places throughout the state on Tuesday, due to analysis of departmental data and gathering intelligence having information about tax theft, in addition to violations of the norms and conditions of taxes and services (GST), carried out by the company concerned.
During the field visit, these companies finally turned out to be false and have also sent fake documents for registration.
The visit of the investigation team to the companies concerned at their address stated in the letters submitted to the department showed that they did not exist.
The places were raided by the team including one in Bhagalpur, three in Darbhanga, two in Magadh, 11 on Patna, one in Purnia, two in the Tirhut Division.
As many as 19 companies found Bogus, and not in their declared address.
They trade items such as iron and steel, readymade clothes, coal, cement and aluminum blocks.
The initial investigation of the three fake companies showed that they had made a tax theft worth Rs 32 Crore by adopting a doubtful way.
“Strict actions will be taken against the companies concerned that have pampered tax theft and also violated GST provisions,” said Commissioner CTD Dr Pratima, added that fake companies had registered themselves with the false department.
Investigation of their activities also revealed their modus operandi.
They benefit from input credit tax (ITC) on fake invoices.
In addition, for transportation, they also produce e-way bills.
“ITC from beneficiaries of fake companies that provide their items will also be blocked,” added the CTD commissioner.
Bihar: Tax Theft Worth RS 32 Crore Detected
