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 arrested two key accused - a man and his son - who were allegedly operating and controlling the firms involved in the fake billing network. The arrests were made under the provisions of the Central GST Act, 2017. Both accused were subsequently produced before a court and sent to judicial custody. The officials said investigation was ongoing to trace the entire network of fake invoicing, including identifying other firms and individuals who may have benefited from or facilitated the fraudulent transactions. The CGST Commissionerate said such enforcement actions were aimed at safeguarding government revenue and ensuring a level playing field for honest and compliant taxpayers. Officials added that stringent action will continue against those found indulging in tax fraud....