Four arrested for making fake GST bills worth Rs 4716 crore, a network of 178 fake companies were created

The Directorate of Commercial Taxes (State GST) of Bengal has busted a gang making fake GST bills worth Rs 4,716 crore. Giving this information on Friday, officials said that four people have been arrested in this regard. This is the first time in the history of the directorate since 1941 that arrests have been made directly under its Investigation Bureau. Earlier, police help was taken for arrest.

Commissioner of Commercial Taxes Directorate, Khalid Anwar said that both the rackets involved huge tax evasion of Rs 801 crore. Additional Commissioner Sudeshna Mukhopadhyay said that the total turnover involved in these two rackets is Rs 4,716 crore. He said the investigation revealed that the four operators created a network of 178 fake companies in Bengal, and issued fake bills to evade tax of Rs 801 crore. Investigation is still going on in this matter.

The Enforcement Directorate (ED) has arrested Abhishek Kumar Singh, an associate of the company's absconding owner, in a money laundering case related to the fraud committed by tainted real estate company Shine City.

ED said in a statement that Abhishek used to support Shine City owner Rashid Naseem. He was actively assisting in collecting, concealing, and laundering the proceeds of crime. The ED case is based on around 250 FIRs lodged by the Uttar Pradesh Police against Naseem and Shine City Group of Companies. Naseem collected Rs 800-1,000 crore by promising huge returns on investments and ultimately cheated the people.

The agency said its investigation has revealed that several agents were working to lure investors and cause undue benefit to the company and helped Naseem and Shine City in the crime. The ED investigation found that the proceeds of crime were transferred to other companies and individuals. Singh, one of the main agents, received the proceeds of the crime.