2 booked for availing Fake ITC of more than Rs. 300 Cr by making Bogus Entities in name of Employees

The officers of DGGI Patna Zonal Unit brought to book two masterminds of a massive Input Tax Credit (ITC) fraud in Jharkhand.

For the purpose of availing and passing on fake ITC, the masterminds had created more than 50 entities, mostly in Jharkhand, in the name of his employees without their knowledge. They obtained the identity documents of these unsuspecting persons on the pretext of giving employment and used these papers to create bogus firms and open bank accounts in their names without their consent and knowledge.

Using this modus, the duo availed inadmissible ITC of more than Rs. 300 Crores.