Fake invoicing racket worth Rs.1819 Crores busted by State GST Enforcement Wing; one Chartered Accountant and another accused arrested

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Jharsuguda : State GST Enforcement Wing on Thursday has arrested a Chartered Accountant Amit Kumar Agrawal, partner Amit Kanheyalal and Co, Jharsuguda and Satindra Kumar Yadav, proprietor of M/s. S.S Syndicate, Bhubaneswar, the masterminds involved in the creation and operation of 13 fictitious firms. While CA Amit Kumar Agrawal has been arrested in Jharsuguda, whereas Satindra Kumar Yadav has been nabbed in Bhubaneswar.

As per the report, the above masterminds in collusion with others, have availed and passed on bogus input tax credit (ITC) worth Rs.323 Crores raising fake purchase and sale invoices to the tune of Rs.1819 Crores in the name of 13 fictitious/non-existent business entities. The actual loss to the Government is Rs.58.14 Crores i.e. the ITC passed on to the recipient outside the State of Odisha. Taking advantage of the simplification of GST newly introduced, the fraud has been committed by the culprit.

The present investigation took its origin from interception of goods vehicle supported by documents issued in the name of non-existing and fake firms.

The State GST Enforcement Wing has so far arrested 23 numbers of fraudsters for their involvement in the issuance of fake invoices. Registration of 29002 dealers has been cancelled so far by the state GST officers on different grounds after field enquiry. To eliminate bogus registration, the registration process has been streamlined. Moreover, a two-month-long special drive starting from 16th July 2021 to 15th September 2021 has been launched to weed out all non-existing registrants.

The Commissioner of State GST appeals to the general public that they should not share their identity documents, personal details, bank details etc. with any unauthorized persons. Also, they should not permit any unauthorized person to operate a business or bank account on their behalf or in their name. In case, it comes to their notice that their credentials and other personal documents are being mis-utilised by someone for running a business the same should immediately be intimated to the nearest GST office.