ED Cracks Rs. 734 Crore GST Scam, Attaches Properties Worth Rs. 15 Crore:

ED Cracks Rs. 734 Crore GST Scam, Attaches Properties Worth Rs. 15 Crore The Enforcement Directorate (ED) in Ranchi has taken action against a GST scam. On Monday, it provisionally attached 10 properties worth over Rs. 15 crore belonging to Amit Gupta and his associates in Kolkata and Howrah, under the Prevention of Money Laundering Act (PMLA), 2002. The ED said that these properties, valued at Rs. 15.41 crore, are part of the illegal earnings from the scam.

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CA Arrested for Passing Rs 11.71 Crore Fake ITC Through Flutron Build and Infra

The case began after the Directorate General of GST Intelligence (DGGI), Jamshedpur, filed many complaints against a group led by Shive Kumar Deora, Amit Gupta, Sumit Gupta, and Amit Agarwal (also known as Vicky Bhalotia). Investigations found that the accused had set up 135 shell (fake) companies in Jharkhand, West Bengal, and Delhi. These companies issued fake GST invoices without actually supplying any goods. This operation involved generating fake input tax credit (ITC) worth more than Rs. 734 crore.

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ED Busts Rs. 700 Crore Fake ITC Scam: Fake Firms, Bogus Invoices, and GST Misuse Exposed

The fake ITC was further sold to other businesses for a commission. Those businesses used it to reduce or avoid paying their actual GST, which caused huge losses to the government.