Bhubaneswar: Odisha GST cell has arrested a trader who committed tax fraud in the name of fake companies in Bhubaneswar & Rourkela.
The accused has been identified as Smrutiranjan Sahoo. He was apprehended from his residence in Bapuji Nagar.
The accused has been identified as Smrutiranjan Sahoo. He was apprehended from his residence in Bapuji Nagar.
He had shown an annual turnover of Rs 40 crore, officials said.
As per available reports, State GST Enforcement Squad traced the multiple transactions routed through different chains.
The accused used names of students and rickshaw pullers in order to take GST registration and open bank accounts in different banks.
The accused was arrested for alleged Rs 10 crore GST fraud in the name of 7 fake companies.
The investigation revealed further that the accused have fraudulently availed fake input tax credit.
It is being said that a modus operandi is being followed whereby fake invoices are being generated for goods which have not been supplied at all. Based on these invoices, some entities are claiming input tax credit. Besides, without actually exporting goods, some entities are claiming GST refunds based on fake invoices.
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