Multi-state ED raids in Rs 10k cr VAT scam case

economictimes.indiatimes.com:

Enforcement Directorate (ED) Tuesday carried out searches at various premises situated in Haryana and Punjab in connection with an alleged VAT scam of ₹10,618 crore.

According to the agency, various entities were incorporated by a syndicate of persons namely Amit Bansal, Harish Biyani, Kamal Bansal, Monil Bansal, Mahesh Bansal, Padam Bansal and Rishi Gupta for allegedly claiming false interstate sale of taxable commodities without any movement of goods.

Thus, the sale was claimed at concessional rate of tax against «C» forms, resulting in claim of false input tax credit and ultimately getting fraudulent refunds causing loss to the public exchequer, people in the know said.

It is further alleged that most of these entities were found registered and operated at the premises owned by these syndicate persons. People quoted above added that the syndicate members received refunds with the help of officers of Excise and Taxation Department (HCS officers) namely DETC Gopi Chand Chaudhary, DETC Narender Kumar Ranga and ETO Ashok Sukhija.