GST fraud: 1 man, 90 firms, 173 bank accounts, Rs 7,672 cr worth invoices, Rs 660 cr worth evasion
In one of the biggest GST frauds unearthed in recent times, the authorities arrested a man for committing fraud worth Rs 660 crore through multiple bogus invoices, news agency PTI reported.
The accused created nearly 90 fake companies to issue fraudulent invoices without any delivery of goods, the report also said citing the finance ministry. Anupam Singla from Sirsa Haryana was taken into custody by the officers of Directorate General of GST Intelligence (DGGI), Headquarters, on July 18 after raiding his residences and offices based out of Delhi. The accused was arrested with 110 debit or credit cards that belonged to different people, the news agency also said in its report.
In addition, the search also unveiled blank signed cheque books of 173 different bank accounts, blank bilty books of various transporters, identity proof of different persons, mobile phone SIM cards and other documents. The invoices to the tune of Rs 7,672 crore, that included the circularly traded value, with a GST component of Rs 660 crore were issued by the fake firms operated by Anupam Singla, the finance ministry said.
GST completed two years of its implementation this month. The Minister of State for Finance Anurag Thakur recently told Parliament in a written reply that the tax officials have detected Rs 45,682.83 crore worth of tax frauds under GST in the last two years of its rollout. An amount to the tune of Rs 6520.40 crore was unearthed in the April to June period of fiscal year 2019-20, the government data showed. In total, 9,385 cases of GST frauds were reported in the last two years, it added.