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Hindustan Times
2 days ago
- Business
- Hindustan Times
Punjab: Mastermind behind ₹30-crore GST scam arrested
The Chandigarh zonal unit of the Directorate General of GST Intelligence (DGGI) claimed to have busted a network reportedly involved in generating fraudulent Input Tax Credit (ITC) through the issuance of invoices without the actual supply of goods. The mastermind, identified as Manmohan Singh of Ludhiana, has been arrested, it said. GST officials said the fraud involved multiple business entities, including M/s JHA and JHA Enterprises (Delhi), M/s Goyal Trading Agency (Delhi), M/s MAA Vaishno Enterprises (Delhi), M/s SS Enterprises (Ludhiana), M/s PC Techno Solutions (Ludhiana) and M/s PMI Smelting Private Limited (Ludhiana). These firms were found issuing fake invoices for zinc products, the DGGI mentioned. Preliminary analysis indicates a widespread network of bogus firms with the quantum of fraudulent Input Tax Credit currently estimated at approximately ₹30.21 crore. This figure is expected to rise as the investigation progresses. Investigations revealed that Manmohan Singh was actively involved in establishing and operating this racket, creating the aforementioned firms to generate and avail ineligible ITC. Furthermore, it has been uncovered that Singh, in collusion with other individuals under the agency's scanner, allegedly facilitated banking transactions and arranged cash movements in exchange for commissions to enable these illicit activities. An official said that Manmohan has been remanded to judicial custody. 'Such fraudulent activities pose a severe threat to the integrity and efficacy of the indirect taxation framework, undermining the foundational principles of transparency, equity and voluntary compliance. The generation of fictitious invoices and wrongful ITC claims not only distort market equilibrium by placing bona fide taxpayers at a competitive disadvantage but also results in significant revenue loss to the exchequer,' he added.
Indian Express
2 days ago
- Business
- Indian Express
DGGI Chandigarh busts Rs 30-cr fake ITC scam; mastermind held
The Directorate General of GST Intelligence (DGGI), Chandigarh Zonal Unit, has unearthed a major fake Input Tax Credit (ITC) racket involving bogus invoices and non-existent supplies. The alleged mastermind, Manmohan Singh, has been arrested and remanded in judicial custody. Officials said the racket revolved around several shell firms — M/s JHA and JHA Enterprises, M/s Goyal Trading Agency, M/s MAA Vaishno Enterprises, M/s SS Enterprises, M/s PC Techno Solutions, and M/s PMI Smelting Private Limited — which were primarily issuing fake invoices for zinc products. The estimated quantum of fraudulent ITC is currently pegged at Rs 30.21 crore and is likely to increase as the investigation progresses. Preliminary findings revealed that Manmohan Singh not only floated these bogus entities but also orchestrated the issuance of fake invoices to generate and avail ineligible ITC. He is also alleged to have coordinated banking transactions and cash movements in exchange for commissions, in collusion with other individuals who are now under the scanner. Given the scale of the fraud and the possibility of evidence tampering, Singh was sent to judicial custody. In a statement, the agency said the case underscores the department's commitment to tackling tax evasion and maintaining the integrity of the Goods and Services Tax (GST) system. 'Fraudulent ITC claims through fictitious invoicing not only distort market competition by disadvantaging genuine taxpayers but also result in significant revenue loss to the exchequer,' the DGGI said. Officials warned that such activities undermine the transparency and equity of the GST regime, affecting the government's ability to fund public welfare schemes, infrastructure, and development initiatives. The DGGI added that it is intensifying enforcement through technological surveillance and strategic intelligence gathering to detect and deter such frauds. Inter-agency collaboration and public awareness are also being emphasised as key tools in combating economic offenses. Further investigation is underway, and more arrests and recoveries are expected.
Time of India
2 days ago
- Business
- Time of India
Directorate General of GST Intelligence busts Rs 30cr fake ITC network
Chandigarh: In a crackdown on financial fraud, the Directorate General of GST Intelligence (DGGI), Chandigarh Zonal Unit, on Friday claimed to have busted a network involved in generating fraudulent input tax credit (ITC) through the issuance of invoices without the actual supply of goods. Tired of too many ads? go ad free now Preliminary probe indicated a widespread network of bogus firms, with the quantum of fraudulent ITC currently estimated at approximately Rs 30.21 crore. The authorities anticipate the figure to increase as the investigation progresses. The intricate scheme involved multiple business entities, including a smelting firm located in Ludhiana, found to be issuing fake invoices for zinc products. The investigation has resulted in the arrest of the alleged mastermind, Manmohan Singh, who was instrumental in establishing and operating this racket, creating the aforementioned firms to generate and avail ineligible ITC. Manmohan is alleged to have colluded with other individuals, currently under the agency's scanner, to facilitate banking transactions and arrange cash movements in exchange for commissions to enable these illicit activities. The firms included JHA and JHA Enterprises, Goyal Trading Agency, MAA Vaishno Enterprises, SS Enterprises, PC Techno Solutions, and PMI Smelting Private Limited. "Given the severity of the offense, the substantial financial fraud involved, and the potential for evidence tampering and witness influence, Manmohan Singh has been remanded to judicial custody," said an official spokesperson of the DGGI. The spokesperson said the DGGI was committed to check tax evasion and preserve the integrity of the Goods and Services Tax (GST) system. The DGGI highlighted that such fraudulent activities not only distorted market equilibrium by disadvantaging legitimate taxpayers but also resulted in significant revenue loss to the exchequer, impacting govt resources for public welfare and infrastructure development. Earlier this month, a Ludhiana-based electronics firm was accused of a GST scam on iPhone supply, involving fake invoices, fraudulent companies, and non-existent supplies. Tired of too many ads? go ad free now Four individuals had been booked for the alleged fraud under the relevant sections of law and under the GST Act. The scheme encompassed the creation of fake invoices, establishment of fraudulent companies, and declaration of non-existent iPhone supplies. It underscored the persistent challenge posed by illicit input tax credit (ITC) schemes, which leverage fictitious entities to transmit ITC without the genuine supply of goods. MSID:: 121520244 413 |
India Gazette
2 days ago
- Politics
- India Gazette
Nishikant Dubey slams Congress, claims it made India
New Delhi [India], May 30 (ANI): BJP MP Nishikant Dubey on Friday accused the Congress-led UPA government of weakening India's national security, alleging that between 2005 and 2008, its foreign policy allowed repeated talks with Pakistan over the exchange of sensitive territories like Kashmir, Sir Creek, and Siachen--ultimately making India 'a weak, helpless and powerless nation' and costing Indian lives. In his X post, he wrote, 'After 1989, from 2005 to 2008, did the foreign ministers of India and Pakistan decide to exchange Kashmir, Sir Creek and Siachen 5 times or not? Congress always made India a weak, helpless and powerless nation in front of Pakistan and got Indians killed.' In a series of X posts earlier, Dubey slammed the former Manmohan Singh-led government, alleging that under pressure from the United States, the United Progressive Alliance (UPA) had decided to resume dialogue with Pakistan shortly after the 26/11 Mumbai terror attacks. In a post shared on X, Dubey referred to the meeting between Manmohan Singh and Pakistan's then-Prime Minister Yousuf Raza Gilani in Sharm el-Sheikh, Egypt, in July 2009. This was the first formal engagement between the two countries after the November 2008 Mumbai attacks. Dubey questioned the timing of the meeting, saying, 'Pakistan attacked Mumbai on 26 November 2008. 180 people died and 300 were injured; the fire of the pyre has not even cooled down. Was the dialogue started in December under US pressure without attacking Pakistan or not? Is this the statement of Prime Minister Manmohan Singh in the Lok Sabha?' The BJP leader alleged that the talks with Pakistan were not only premature but also influenced by external forces, especially the United States. He cited multiple instances from 2009 where Indian and Pakistani leaders engaged in diplomatic interactions. 'Did the Foreign Ministers' meeting take place in January 2009 or not? Did he meet Pakistan President Zardari in Russia in June 2009 with the mediation of a third country or not? In July 2009, under American pressure, did Sharmal Sheikh go to Egypt and reach an agreement with the Prime Minister of Pakistan or not?' he asked. Referring to another major terror incident that occurred in 2011, Dubey said that such attacks highlighted Pakistan's continued support to terrorism, and criticised the Congress party's alleged 'soft' approach. 'In 2011, Mumbai blast happened again in which 26 people died and 200 people were injured. PM Modi raised our head high by doing Operation Sindoor, after years Pakistan is in a state of panic. Congress is completely hand in glove with terrorist Pakistan. The public can go to hell,' he added. In an earlier post on Wednesday, Dubey had also targeted Congress over an alleged nuclear deal with Pakistan in 1988 during the tenure of former Prime Minister Rajiv Gandhi. According to Dubey, the agreement was signed under 'American pressure'. He posted a purportedly declassified letter that he claimed was sent by former US President Ronald Reagan to Rajiv Gandhi, which outlined America's role in setting the agenda for India-Pakistan discussions. 'Why is Congress angry? When I saw this paper, I felt ashamed. US President Ronald Reagan sent this letter/telegram to the then-Prime Minister Rajiv Gandhi. Under American pressure, we spoke to Pakistani President General Zia. The agenda for the talks was set by the US President. What we understood after this letter was that Pakistan and we did the nuclear deal in 1988 under American pressure,' Dubey said in his post. He further added, 'Whatever we talked to our friend Soviet Russia about on the Afghanistan problem was an American agenda. Is this the Shimla Agreement? Is the Iron Lady the mentality of slavery? Were we a sovereign nation at that time? Is Congress abusing Modi Ji to make India stronger?' Dubey, the Member of Parliament from Godda in Jharkhand, is part of a multi-party parliamentary delegation currently visiting West Asia and North Africa. The group, led by BJP MP Baijayant Jay Panda, has already visited Bahrain, Saudi Arabia, and Kuwait. The delegation is scheduled to arrive in Algeria on May 30 for the next leg of its official tour. (ANI)
Time of India
3 days ago
- Politics
- Time of India
'Congress hand in glove with terrorist Pakistan': Nishikant Dubey alleges Manmohan Singh resumed talks after 26/11 under US pressure
Former Prime Minister Manmohan Singh (File Image) NEW DELHI: Bharatiya Janata Party MP Nishikant Dubey on Friday once again targeted Congress , accusing the UPA government under Manmohan Singh of resuming the talks with Pakistan after the 26/11 Mumbai terror attack was under the United States' pressure. He made this claim on the basis of former Prime Minister Manmohan Singh's statement in the Lok Sabha where he was explaining why he held the meeting even after the terror attack. In a post shared on X, Dubey referred to the meeting between Manmohan Singh and Pakistan's then-Prime Minister Yousuf Raza Gilani in Sharm el-Sheikh, Egypt, in July 2009. This was the first formal engagement between the two countries after the November 2008 Mumbai attacks, which left 180 people dead and over 300 injured. The BJP parliamentarian suggested that the discussions with Pakistan were premature and influenced by external pressures, particularly from the United States. He referenced several diplomatic engagements between Indian and Pakistani leaders throughout 2009. "Pakistan attacked Mumbai on 26 November 2008 180 people died and 300 were injured, the fire of the pyre has not even cooled down 1. Was the dialogue started in December under US pressure without attacking Pakistan or not, is this the statement of Prime Minister Manmohan Singh in the Lok Sabha?" he said in a post on X. He asked whether after 1989, from 2005 to 2008, did the foreign ministers of India and Pakistan decide to exchange Kashmir, Sir Creek and Siachen 5 times or not? "Congress always made India a weak, helpless and powerless nation in front of Pakistan and got Indians killed," Dubey said. Addressing the 2011 terror incident, Dubey criticised Congress's approach towards Pakistan. "In 2011, Mumbai blast happened again in which 26 people died and 200 people were injured. PM Modi raised our head high by doing Operation Sindoor, after years Pakistan is in a state of panic. Congress is completely hand in glove with terrorist Pakistan. The public can go to hell," he remarked.
