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GST Scanner On Shell Firms, Bogus Billing

| Updated: March 16, 2022 13:22

In a bid to crack down on fraudulent ways of tax evasion, the state GST department has undertaken an intensive operation to comb out the defaulters. The modus operandi most preferred seems to be setting up firms in the names of real people from the financially challenged sector. Then, take over the enterprise and retain services of the “actual” entrepreneurs, while attribute bogus losses to the firm. In turn, the offenders can recycle their money and thus evade taxes.

Pursuant to which, from 8/3/2022, GST Department 1, Ahmedabad, carried out raids on various places of business and residence of companies, firms, bogus billing operators and other ISMOs involved in fraud. A large quantity of accounting books, electronics devices, digital data storage devices, debit cards, check books and rubber stamps were recovered during the raid at Anantbhai Ashokbhai Shah’s Ashram Road “office.” Material thus seized is currently being reviewed.

Sleuths pursuing the case, discovered that Anantbhai Ashokbhai Shah set up companies in his name by giving financial incentives to employees in his office and by adding such employees as partners. Under these firms, he purchased goods (bullion, steel, chemical, oil, etc.) It appears that the transaction of sale and purchase is shown on paper without any actual transaction being made, and the payment has been made through the bank to validate such transactions. The payment commission received from the bank has been deducted, and the cash amount has been refunded. These commodities are said to have evaded tax by making unaccounted transactions in cash.

This GST tax evasion scam, to a large extent, is being operated by Anantbhai Ashokbhai. He was arrested on Sunday and presented in the court of Additional Chief Metropolitan Magistrate on Monday. On basis of evidence that other bogus firms may have been operated by him, he has been remanded to a seven-day custody.

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