Ranchi: DEPARTMENT OF CENTER & TAX SERVICES (CGST) has explored fraud worth RS 300 Crore where the company uses fake bills and invoices to produce input tax loans (ITC).
CGST said in a press statement that fake ITC was transferred to another company that used it to claim undue tax benefits from the government on their products.
This caused a loss of revenue of 26.51 crore to the government.
Detected deviations during data analysis 17 companies based in Jharkhand.
During the investigation it was found that five companies had one address while another group of seven companies also had one address.
Further verification reveals that all of these companies do not have an office at the address provided.
Next, the address of several other companies was found wrong.
Overall 19 companies in Jharkhand issued bills and fake invoices to produce ITC.
It also found that some companies have used the same email address and cellphone number for registration under GST.
Companies that benefit fake ITC are mostly from other states such as Chhattisgarh and Odisha.
The regional GST office concerned is informed about them.
Further investigations are finding sources and fraud key players.