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Assam: GST intelligence busts fake invoice racket, Guwahati Businessman and tax consultant arrested

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Guwahati, July 22:

Brief

– DGGI, Guwahati Zonal Unit unearthed fake invoice racket worth Rs 338 Crore

– Guwahati based businessman and a tax consultant arrested and sent to 14-day Judicial Custody

– Engaged in receipt and issuance of fake invoices of coal without supplying any goods

– Racket involved setting up shell companies in Delhi, Punjab and Gujarat

Full Report

In a major bust of tax evasion scam in Assam, the Directorate General of GST Intelligence (DGGI), Guwahati Zonal Unit has unearthed a Rs 338 Crore racket of fake invoices.

According to a media statement, the DGGI mentioned that a city-based businessman in connivance with a tax consultant had conducted the scam.

The Additional General of GST Intelligence in Guwahati Unit said Amit Kumar, owner of M/s. Maruti Traders bearing GST number 18AKGPK7676Q1Z4, and Tax Consultant Sourav Bajoria, proprietor of M/s Bajoria Associates have been arrested under several stringent sections of the GST act and other Indian Penal Code.

The duo also had generated fake credit of Input tax (ITC) involving Rs 28.97 crores of GST.
On the modus operandi, the ADG said, “Amit Kumar, was engaged in receipt and issuance of fake invoices of coal. The firm showed purchase of coal from Gujarat, Punjab and Delhi to his Guwahati unit to avail input tax credit (ITC). The unit subsequently issued invoices to cement manufacturers, coke manufacturers, and other traders etc in North East without supply of any goods. The fake invoices/bills of coal by the firm were used as cover document for the coal procured clandestinely and to pass on irregular ITC.”

The ADG also alleged that Amit had also set-up two shell companies by the same name Maruti Traders at Ludhiana and Gandhidham and showed business transactions between these firms on paper without any supply of goods.

“This huge racket of fake invoicing involved other firms in Delhi, Punjab and Gujarat which were found to be non-existing,” the ADG said.

On the role of Tax Consultant Sourav Bajoria, the ADG said, “He colluded with Amit Kumar and caused the commission of the fraud. He was instrumental in dealing with transactions for Amit. Sourav maintained the books of accounts, prepared the Financial Accounts and got the account audited and filed the GST returns pertaining to M/s Maruti Traders of Guwahati, Gujarat and Ludhiana which turned out to be non-existent entities during search.”

Both the accused were produced before the CJM Kamrup Metro and sent to 14 days judicial custody.

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