Lid off fake billing scam worth Rs 70 cr
By Thetribune 27-Jul-2019
Sources said the five firms generated fake bills to fraudulently claim the input tax credit (ITC). The bogus bills were used to fraudulently claim the ITC from the department without the actual movement of goods. the sources said the firms involved in the racket obtained GST registration. Using the registration, the fake movement of goods was shown and bogus purchase invoices were generated. These bills were sold at a lump sum amount to actual traders, who not only purchased goods from the grey market to claim the ITC illegally, but also evaded taxes.
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