Chandigarh Directorate General of GST Intelligence has busted a fake ITC scam in Punjab and arrested Manmohan Singh, a resident of Ludhiana, as the mastermind. Investigation has revealed the involvement of several fake business entities who committed a fake input tax credit scam of about Rs 30.21 crore. This figure is likely to increase in further investigation.
The zonal unit of Directorate General of GST Intelligence, Chandigarh has busted a major fake input tax credit scam. In the case, a person named Manmohan Singh, a resident of Ludhiana, has been arrested as the mastermind.
Investigation has revealed that several fake business entities were involved in this scam. This fraud was being done through these fake business entities, including M/s Jha & Jha Enterprises (Delhi), M/s Goyal Trading Agency (Delhi).
These include M/s Maa Vaishno Enterprises (Delhi), M/s SS Enterprises (Ludhiana), M/s PC Techno Solutions (Ludhiana), M/s PMI Smelting Private Limited (Ludhiana). Preliminary investigation has revealed fake ITC of about Rs 30.21 crore. This figure may increase further as the investigation progresses.