‘GST fraud’ unearthed in Karimnagar
The Directorate General of GST Intelligence has uncovered a fake GST invoicing scheme in Karimnagar. The investigation revealed fraudulent transactions related to granite transport amounting to nearly ₹100 crore. Authorities are continuing to investigate the tax evasion racket and identify additional individuals involved.
- ▪DGGI officials arrested the organiser of a bogus firm involved in GST fraud.
- ▪The fraudulent transactions were linked to granite transport worth nearly ₹100 crore.
- ▪The bogus agency allegedly evaded GST payments totaling around ₹16 crore.
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The field officials of the Directorate General of GST Intelligence (DGGI), Hyderabad Zonal Unit, reportedly busted a fake GST invoicing racket in the granite hub in Karimnagar by arresting the organiser of a bogus firm.According to sources, the DGGI sleuths have reportedly detected fraudulent financial transactions of granite transport worth nearly ₹100 crore by the bogus agency involved in the racket during searches carried out in the last two days.The accused allegedly created fake invoices and waybills through the bogus firm, evading payment of GST to the tune of around ₹16 crore.However, there was no immediate confirmation of the arrest of the organiser by the officials concerned.Sources added that a detailed investigation was underway to unearth the whole gamut of the tax evasion…
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