Odisha

GST Fraud Of ₹323 Crore Busted In Odisha; Chartered Accountant Among two Arrested

By
OB Bureau

Bhubaneswar: The state GST (Goods and Services Tax) enforcement wing unearthed a racket involved in fake invoicing of 1,819 crore to claim input task credit (ITC) worth Rs 323 crore and arrested two persons.

This is one of the biggest GST frauds detected in recent times.

Addressing a press conference here, Commercial Taxes and GST Commissioner Sushil Kumar Lohani said Amit Kumar Agrawal, a chartered accountant, and his accomplice Satindra Kumar Yadav, had been arrested for allegedly creating and operating 13 fictitious firms.

“The two have availed and passed ITC worth ₹323 crore by raising fake purchase and sale invoices to the tune of ₹1,819 crores in the name of 13 fictitious or non-existent business entities,” he said.

Lohani said that the actual loss to the government is ₹58.14 crore as the ITC was passed on to recipients outside the state of Odisha. “The duo committed the fraud by taking advantage of the newly-introduced simplification of GST,” he said.

Since the fraud spread over to West Bengal, Jharkhand, Chhattisgarh and Delhi, officers moved to different states and conducted the investigation, taking the help of the jurisdictional officers concerned, he added.

The addresses of 10 fictitious firms were traced to wasteland without any building or infrastructure at Bagdehi in Jharsuguda, two other places in Beheramal in Jharsuguda, and one in Sambalpur.

“Investigation revealed that a portion of illegal money accrued from the fake business has ultimately been received by the masterminds through different channels and routes,” he added.

OB Bureau

Recent Posts

Odisha CM Reviews Paddy Procurement Preparations; Mandis To Install CCTVs

Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Wednesday held a meeting with district Collectors…

November 13, 2024

Odisha Cabinet Approves GOMATA, Maschyajibi Kalyan & Other Schemes With Rs 3612 Cr Outlay

Bhubaneswar: The Odisha Cabinet on Wednesday approved a new scheme “Goal for Management and Treatment…

November 13, 2024

Couple Murdered Over Land dispute In Odisha Village

Berhampur: A 62-year-old man and his wife were on Wednesday murdered allegedly by the husband’s…

November 13, 2024

Last Supermoon Of 2024 To Appear On This Date

Bhubaneswar: Sky gazers are in for a treat as the last supermoon also known as…

November 13, 2024

Odisha Govt To Form Inter-Ministerial Committee To Resolve Inter-State Disputes

Bhubaneswar: The Odisha government on Wednesday decided to form an inter-ministerial committee to resolve various…

November 13, 2024

Suriya & Bobby Deol Starrer ‘Kanguva’ All Set To Hit Theatres Tomorrow

Chennai: The release of Suriya and Bobby Deol starrer highly -anticipated ‘Kanguva’ had hit uncertainty…

November 13, 2024

‘The Great Indian Kapil Show’ Lands In Legal Trouble; Here’s Why?

Mumbai: Popular comedy talk show ‘The Great Indian Kapil Show’, hosted and produced by Kapil…

November 13, 2024

BJD ‘Infighting’ In Odisha: Woman Councillor Brings Serious Charges Against Party Leader In Balsore

Balasore: Amid reports of infighting and groupism in Biju Janata Dal (BJD) after its debacle…

November 13, 2024