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GST bogus billing scam: ₹40 lakh seized from Ludhiana hosiery trader
Hosiery trader Yogesh is a distant uncle of the kingpin of the multi-crore GST scam, Sahil Jain, who was arrested by the department in November
The anti-evasion wing of the Central Goods and Services Tax (CGST) Commissionerate seized ₹40 lakh from hosiery trader Yogesh Jain’s house in Kalyan Nagar on Saturday. The amount is suspected to be the proceeds from the ₹393 crore GST scam unearthed in November last year.
Yogesh is a distant uncle of the kingpin of the multi-crore GST scam, Sahil Jain, who was arrested by the department in November. Sahil had availed input tax credit (ITC) worth ₹33 crore through the bogus billing scam.
The department was tracking the crucial documents and whereabouts of the accused Sahil Jain when they landed at Yogesh Jain’s house and caught him evading GST too.
Principal commissioner Ashutosh Baranwal said that Sahil had availed ITC with ₹33 crores and it was believed that some crucial documents relating to the GST fraud were hidden at his relatives’ house.
During the search operation at the house of Yogesh, who is running a firm called M/s Maha Bhagwati S Jain Traders, ₹40 lakh was recovered from the cupboard of a bedroom. When questioned about the cash, he confessed that he was evading GST by indulging in undeclared supply transactions, receiving and supplying goods without issuing proper invoices, and mostly generating ‘Kacha bills’ for the goods supplied, said Baranwal.
The department officials said the amount has been seized and the matter is under investigation, following which appropriate action will be taken.
