Fake GST Invoice Racket Of Rs 106 Crore Unearthed In Odisha

Bhubaneswar:  An Odisha government agency working under the Goods and Services Tax (GST) directorate on Monday unearthed a racket that issued fake invoices to the tune of Rs 106 crore, which caused a loss of Rs 19.04 crore to the state exchequer in the form of input tax credit (ITC), an official said. The ITC is the tax that a company pays on a purchase and that it can use to reduce its tax l…