Fake GST billing scam worth Rs 347 crore busted in Delhi, kingpin arrested

Enforcement officials of the Delhi GST Department unearthed a Rs 347 crore fake GST billing scam on January 1. The total tax evasion in the chain is expected to be close to Rs 40 crore. As many as 11 firms were found to be involved in the fake GST billing scam. These companies used to indulge in circular trading and issuing fake bills to claim fraudulent Input Tax Credit (ITC) to evade taxes. Thes…