Punjab Busts Major GST Fraud: Accused Nabbed for ₹3.65 Crore Fake ITC Claim

Punjab Busts Major GST Fraud: Accused Nabbed for ₹3.65 Crore Fake ITC Claim

Chandigarh, February 18: In a significant development, the Punjab Excise and Taxation Department, in collaboration with the Fatehgarh Sahib Police, apprehended a GST fraudster for generating and claiming fake Input Tax Credit (ITC) amounting to ₹3.65 crore.

Strict Action Against Tax Evasion:

Punjab Finance Minister Harpal Singh Cheema emphasized the government’s unwavering commitment to tackling GST fraud. He warned that such fraudulent activities would be met with the “full force of the law.”

Modus Operandi and Investigation:

The accused, Deepak Sharma, allegedly submitted a forged GST Registration Certificate to a bank. The authorities, upon identifying the fraudulent activity, froze the linked bank account and initiated recovery proceedings for ₹26 lakh.

Further Investigation and Collaborative Efforts:

A special task force, acting on intelligence gathered over several weeks, conducted coordinated raids along with the Fatehgarh Sahib police at multiple locations connected to the accused. An FIR has been registered, and a comprehensive investigation is underway to determine the complete scope of the fraud and recover the evaded taxes.

Technology and Collaboration as Key Weapons:

Finance Commissioner Taxation Vikas Partap highlighted the department’s development of data analytics software to detect individuals involved in generating fake ITC and emphasized strict action against such offenders.

Strong Message from the Government:

This successful operation exemplifies the robust inter-agency cooperation and unwavering resolve of the Chief Minister Bhagwant Singh Mann-led Punjab government to combat GST fraud. The government reiterates its zero-tolerance policy towards tax evasion and warns potential offenders of severe legal consequences.

Keywords: Punjab, GST Fraud, Fake ITC, Tax Evasion, Collaboration, Enforcement, Data Analytics, Strict Action.

Hashtags: #Punjab, #GSTFraud, #FakeITC, #TaxEvasion, #Enforcement, #DataAnalytics, #ZeroTolerance