Gujarat: State GST Busts Massive Tax Credit Fraud, Three Held

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Gujarat: State GST Busts Massive Tax Credit Fraud, Three Held

| Updated: June 28, 2024 10:14

The Gujarat state GST (SGST) department conducted massive raids on nine business establishments in North Gujarat and discovered bogus billing scams amounting to Rs. 392 crore.

The authorities held Arvind Patel, Jasmin Kumar Patel and Krupesh Patel in connection with the allegation of defrauding the state exchequer to the tune of Rs. 392.83 crore. The Additional Chief Metropolitan Court of Ahmedabad has approved remand of the first two till July 2, whereas the last accused till July 3.

The firms dealing in the business of rolling mills are accused of damaging the government treasury by willfully evading tax through bogus billing and wrongfully receiving tax credit. Nine rolling mills have been detected,, and strict action has been initiated against them.
The firms tweaked the system by obtaining false tax credits up to Rs. 70.71 crore based on forged bills received from bogus firms.

The arrested Arvind Vithalbhai Patel is partner of Nilkanth Alloys, Jasmin Laxmanbhai Patel is partner of Pramukh Industries and
Krupesh Rameshbhai Patel is director of Capco Alloys Private Limited, all based in North Gujarat. They are booked for violations of the GST Act, specifically Section 132(1) (c), relating to the receipt of illegal input tax credits.

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