Ludhiana, Jan. 22 -- The Central Goods and Services Tax (CGST) Commissionerate, Ludhiana, has unearthed a fake GST invoicing racket amounting to Rs.311 crore in the iron and steel manufacturing sector.

Acting on specific intelligence inputs, CGST officers conducted multiple search operations across Ludhiana, leading to the detection of large-scale tax evasion.

During the searches, officials found that a major iron and steel manufacturing company had allegedly availed of bogus GST invoices and fraudulently utilised ineligible Input Tax Credit (ITC) to the tune of Rs.47.50 crore.

The illegally availed ITC was used to offset GST liabilities, resulting in significant loss to the government exchequer.

Following the searches, CGST officials...