GST Fraud of Rs 315 Crore Using a Deceased Person’s Forged Signature

The Commercial Tax Department in MP took swift action and uncovered a major fraud. False institutions that pass on ITC to other businesses by issuing phoney bills have been prosecuted. The department has discovered a phoney firm’s supply chain. These companies were involved in a fictitious turnover of crores of rupees. The majority of the businesses did not exist. Many companies’ sites, including Indore and Neemuch, were raided.

A GST scam worth Rs.315 crore was discovered as a result of this operation. During data analysis, the department discovered that some businesses were generating a high volume of new registrations in a short period of time. This issue was discovered by artificial intelligence, geo-tagging, and preliminary investigation of business websites. The department’s personnel then searched the offices of a number of companies in Neemuch, including Indore, at the same time. During the raid, many fraudulent businesses were discovered. That is, no firms exist; just their names are listed on the paperwork. By declaring the supply of 315 crores of DOC in the return, these fraudulent companies gave other firms the advantage of a bogus ITC of Rs.15 crore.

Forgery of a Deceased Person’s Signature

Shreenath Soya Exim Corporate, Shree Vaibhav Lakshmi Industries, Agarwal Organic – Agarwal Overseas, and JS Bhatia Enterprises are examples of fraudulent companies. When the crew arrived at the given address of these firms, no commercial activity was discovered. That is, there is no firm, and all transactions are carried out in its name. M/s Srinath Soya Exim Corporate Firm was registered in the name of an auto driver named Sachin Pateria. A forged rent deed was submitted together with the registration application. The owner of that house had passed away many years before. Ajay Parmar, the proprietor of M/s Shri Vaibhav Laxmi Industries, was also not found at the location. For the firm’s registration, a forged rent deed was also imposed.