New Delhi, Jan. 22 -- The Enforcement Directorate (ED), Itanagar Zonal Office, on Thursday said it recently carried out search operations at ten premises across West Bengal, Manipur, and Jharkhand in connection with a Rs 100-crore fake Input Tax Credit (ITC) fraud.
The ED initiated an investigation under the Prevention of Money Laundering Act (PMLA) based on FIRs registered under various sections of the Indian Penal Code, following a complaint filed by the CGST and Central Excise, Itanagar Commissionerate, against Sidhi Vinayak Trade Merchant, Arunachal Pradesh. The firm was found to be non-existent at its declared address.
Investigation revealed that the firm had fraudulently issued a total of 15,258 bogus invoices with a taxable value o...