Trader held for committing Rs 60 crore-GST fraud

Trader held for committing Rs 60 crore-GST fraud

(File Photo for representation- Getty Images)

The Punjab Excise and Taxation department on Thursday claimed to have detected a GST fraud of Rs 60 crore.

A local iron and scrap trader, Subhash Chander, was arrested in connection with the fraud, an official of the department said here.

Chander used to procure fake GST invoices of iron and scrap from Delhi without the delivery of goods, the official further said.

Vehicles shown in the bills for the transportation of the material turned out to be two-wheelers as per the investigation conducted by the department.

He was accused of creating bogus input tax credit running into crores of rupee and further passing on to various dealers of Punjab, said Navdeep Kaur Bhinder, Additional Commissioner-cum-Director Investigation, Punjab.

Bhinder said further investigation into this case was underway.