The Noida Police has issued non-bailable warrants against 10 people for defrauding the government of ₹15,000 crore by using fake input tax credit (ITC) documents. The accused persons are all from Delhi and Haryana.
The police said that the accused had created fake invoices and used them to claim ITC for goods and services that were never actually supplied. They had also used shell companies to facilitate the fraud.
The matter came to light after the Directorate General of GST Intelligence (DGGI) received some intelligence inputs. The DGGI then conducted an investigation and found that the accused had been defrauding the government for several years.
The police have raided the premises of the accused and seized a number of documents and electronic devices. They are also looking for the mastermind of the fraud.
This is not the first time that such a fraud has been reported in India. In recent years, there have been several cases of GST fraud involving large sums of money. The government has taken steps to crack down on these frauds, but they continue to occur.
The use of fake ITC documents is a serious crime that can have a significant impact on the government’s finances. It is important for businesses to be aware of the risks involved in this type of fraud and to take steps to protect themselves.
If you suspect that someone is involved in a GST fraud, you can report it to the DGGI or the police. You can also contact the GST helpline at 1800-120-2020.
Here are some tips to help businesses avoid being involved in GST fraud
- Only deal with genuine suppliers and customers.
- Verify the authenticity of invoices before making payments.
- Keep proper records of all your GST transactions.
- Be aware of the latest GST frauds and how to protect yourself from them.
By following these tips, businesses can help to keep GST fraud in check and protect themselves from financial losses.