The Uttar Pradesh Special Task Force (STF) and the sales tax department have unearthed a Rs 13 crore tax fraud case involving two subsidiaries of a company which carried out the embezzlement by means of bogus invoicing.
According to officials, the accused firms, RoundPay Techno Media and RoundPay Voice Tech, both registered at the same address in Lucknow, were involved in e-payment for utility services. They were involved in circular trading and had shown transactions worth Rs 72.7 crore between them, on which they claimed an input tax credit of Rs 13.09 crore at 18 per cent GST.
Deputy Superintendent of Police, STF Noida, Rajkumar Mishra said that over 100 officers were involved in the operation and that simultaneous raids were conducted at the locations of the main companies in Lucknow and their subsidiaries in other towns by five teams comprising personnel of STF field units in Lucknow, Allahabad and Noida.The companies were asked for invoices of the trade done between them but they failed to produce any. The system used by these companies for generating the invoice/bills also had no record of this trade.
The DSP added that the director of the parent company has admitted in writing to the probe agencies about the Rs 13 crore fraud and that 6 TB (terrabyte) data has been recovered from the firms’ servers in Noida and a detailed investigation of it is underway. No FIR has been lodged as of now.
Source: https://www.news18.com/news/india/rs-13-crore-gst-fraud-busted-after-raids-in-lucknow-noida-by-up-special-task-force-2101947.html
