In state-wide searches carried out against scrap traders in Gujarat, the State Goods and Service Tax (SGST) department has unearthed a bogus billing racket worth Rs 285 crore.
The department had searched 30 locations which included 10 in Bhavnagar, 12 in Rajkot, seven in Surat and one in Ahmedabad.
After going through the accounts, digital data and details of purchase and sale seized during the searches, the department found 17 traders involved in the racket. Officials from SGST department said the searches were carried out from January 7 to 11.Till now, the department has found bogus bills worth Rs 285 crore in which Rs 53 crore worth of input tax credit has been passed on to certain beneficiaries.
The department is currently in the process of identifying those involved in the fake billing and are also searching for the beneficiaries of these fake bills.