CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
Delhi Police have dismantled an organised interstate racket involved in manufacturing and distributing counterfeit life-saving medicines, arresting six individuals and seizing fake drugs worth approximately Rs 2 crore. The investigation also revealed a network of fake GST firms used for generating bogus invoices and laundering money.
The Delhi Police's Economic Offences Wing (EOW) has dismantled a GST fraud cartel, arresting six individuals involved in swindling Rs 128 crore through shell companies and fake invoicing.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
The Enforcement Directorate conducted searches against Punjab industries minister Sanjeev Arora and others allegedly linked to him as part of a money laundering case investigation.
A court in Gurugram has sent Punjab's Industries Minister Sanjeev Arora to seven days of ED custody in a money laundering case, officials said on Sunday.
The Enforcement Directorate conducted fresh searches against Punjab industries minister Sanjeev Arora and others allegedly linked to him as part of a money laundering investigation.
Police in Pilibhit, Uttar Pradesh, have uncovered a GST fraud involving the misuse of a GST ID to misappropriate approximately Rs 7 crore. The investigation revealed 13 fake firms allegedly used to generate bogus bills.
Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
The Enforcement Directorate conducted fresh searches against Punjab industries minister Sanjeev Arora and others allegedly linked to him as part of a money laundering investigation. Raids were carried out at multiple locations, including Arora's residence and business premises, following a new case registered under the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate (ED) has arrested Punjab Industries Minister Sanjeev Arora in connection with a money laundering case involving alleged fake GST purchases and round-tripping of funds. Raids were conducted at multiple locations, and Arora was taken into custody under the Prevention of Money Laundering Act (PMLA). This follows previous actions against Arora and other politically connected individuals in Punjab.
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
The Uttar Pradesh STF has arrested a man in connection with a Goods and Services Tax (GST) fraud estimated at Rs 15,000 crore. The accused allegedly used fraudulently obtained GST registrations to create fake firms and generate bogus invoices.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
A special PMLA court in Gurugram has remanded Punjab Industries Minister Sanjeev Arora in Enforcement Directorate's custody for a week in an alleged Rs 100-crore GST fraud-linked money laundering case.
The start of the West Asia conflict has led to a sharp increase in crude-linked raw material prices, pushing up the price of helmets across the country.
Delhi Police busted an illegal forex trading call centre in Indore, arresting six individuals involved in defrauding victims nationwide through fake online investment schemes. The syndicate allegedly used a fake trading platform to lure people into investing in forex and online trading products, showing fabricated profits and gains.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
The Enforcement Directorate conducted searches at premises linked to Punjab industries minister Sanjeev Arora as part of a FEMA probe into alleged foreign exchange violations, insider trading, and round-tripping of funds.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
Uttar Pradesh Chief Minister Yogi Adityanath on Monday strongly rebutted allegations by Leader of Opposition Mata Prasad Pandey over 'deaths' allegedly due to the consumption of fake medicines and codeine syrup, asserting in the Assembly that no such case has come to the notice of the state government so far.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
The Gujarat High Court dismissed a plea filed by journalist Mahesh Langa seeking the quashing of an FIR registered against him for allegedly stealing "highly sensitive and confidential documents" belonging to the Gujarat Maritime Board (GMB). The court found that prima facie, Langa's involvement in the crime was evident from the evidence collected during the investigation. The court further stated that the investigation is at a nascent stage and it would be inappropriate to exercise its inherent powers in favor of the petitioner at this stage.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
GST authorities have expanded the probe into alleged tax evasion by fintech firm BharatPe to include reported issuance of fake invoices by those close to the firm's ousted co-founder Ashneer Grover, an official said. GST authorities are now scrutinising BharatPe books of the last four years to see if bogus invoices were issued for services as well. BharatPe had stripped Grover and his wife Madhuri Jain of all positions after a preliminary report of an external audit commissioned by the fintech firm's board showed that the duo indulged in alleged misdeeds and financial irregularities.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
Vivek Johri, the Chairman of Central Board of Indirect Taxes and Customs (CBIC) on Friday said that the cash recovery of approximately Rs 150 crore from searches in Kanpur at several locations related to Trimurti Fragrance is the 'biggest haul ever'.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
