GST Intelligence busts fake invoice racket in coal trade, one held in Guwahati

STAFF REPORTER

GUWAHATI: GST Intelligence has detected a fake invoice racket in the coal trade in Guwahati and arrested one person.

According to GST Intelligence, Guwahati zone Additional Director General HM Anal, they have unearthed a Rs 180-crore racket of fake invoices involving fake credit of input tax (ITC) of Rs 15.05 crore of GST, including cess.

He said, "M/S Bansal Associates proprietor Vikas Bansal was engaged in receipt and issuance of fake invoices of coal. Bansal was running fake firms in Ludhiana (Punjab), Gandhidham (Gujarat), Kalka (Haryana), and Guwahati. The Guwahati-based firm of Bansal received fake invoices of coal without receipt of any goods from Gujarat, Punjab and Haryana, and availed of an input tax credit. The unit subsequently issued invoices to cement manufacturers, coke manufacturers and other traders in the Northeast without supplying any goods. The fake invoices and deals of coal issued by Bansal Associates served as cover documents for procuring coal clandestinely, and to pass on irregular ITC."

The GST Intelligence sleuths arrested prime accused Bansal for violating different provisions of CGST and produced him before the CJM court that remanded him to 14-day judicial custody. In July this year, GST Intelligence did bust a fake invoice racket in the coal trade in Assam, involving around Rs 338 crore.

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