GST fraud of 16 crore unearthed in Ballari district, accused used Aadhaar and PAN of staff to hold out fraudulent exercise

Officers of the Directorate General of GST Intelligence, Belagavi Zonal Unit, have unearthed a GST fraud of ₹16 crore. One individual was arrested throughout a search and inspection carried out at three locations in Ballari district of Karnataka.

The investigation revealed a classy community of bogus corporations engaged in fraudulent Input Tax Credit (ITC) transactions. Invoices to avail and move on fraudulent Input Tax Credit (ITC) amounting to ₹16 crore have been uncovered.

The accused had arrange shell entities with no official enterprise operations, producing faux invoices and e-way payments. The knowledge evaluation of the transactions has given substantial grounds concerning the fraudulent nature of the exercise carried out by the accused.

The arrested particular person floated shell corporations, with no precise enterprise exercise, for availing and passing on the good thing about ITC. During the search continuing on the Principal Place of Business, incriminating paperwork have been discovered and seized.

The accused used cast rental settlement, letterhead and different paperwork, to create the shell corporations. He used the private paperwork, like Aadhaar and PAN, of his staff to hold out the fraudulent exercise.

The accused was produced in court docket, which despatched him to judicial custody.