CGST officers busted a fake firm in iron and steel sector at Mandi Gobindgarh, Fatehgarh Sahib.
Firm generated fake bills worth ₹29.43 crore, causing ₹5.29 crore GST evasion.
The Central GST officers have busted a fake firm in the iron and steel sector for generating fake bills worth ₹29.43 crore, which resulted in ₹5.29 crore GST evasion.
The fake firm, which was set up to fraudulently pass on input tax credit was based in Mandi Gobindgarh, district Fatehgarh Sahib, and was busted by the Ludhiana CGST Commissionerate, an official statement said on Friday.
Investigations revealed that the firm had received and passed on fake bills worth ₹29.43 crore, thereby evading GST to the tune of ₹5.29 crore, it said.
To support these fake invoices, the firm had generated fake e-way bills and other related documents to escape the scrutiny of GST enforcement agencies.
The proprietor of the firm was arrested on Thursday and remanded to judicial custody, the statement said.
