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

DGGI Patna Zonal Unit has booked 2 for availing Fake ITC of more than Rs. 300 Cr by 50 Bogus firms in name of Employees.

Passing on Fake ITC in name of Employees

CA Pratibha Goyal | Apr 18, 2024 |

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

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.

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button
Join Membership

In case of any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"




Author Bio
My Recent Articles
Old Properties held before 2001 to be given indexation benefit: FM Clarifies Budget 2024: 2% Equalization Levy Abolished Budget 2024: No more Reporting of income from letting out of house property under PGBP Budget 2024 introduces TDS on Salary to Partner: Changes made in remuneration Limit of Working Partner Budget 2024 introduces major changes in Capital Gain Taxation: Takes away indexation benefitView All Posts