announced on Friday that an investigation by the state taxation department's enforcement wing has uncovered fake billing scams worth thousands of crores of rupees. The scams involved two firms dealing in gold, which generated fake bills worth Rs 860 crore, and 303 firms dealing in iron, which were involved in fake billings of Rs 4,044 crore.
Additionally, 68 firms were found to have engaged in fake billing of Rs 533 crore after getting their firms registered in other names. Cheema explained that the enforcement wing found that a firm dealing in gold in Amritsar had made fake bills worth Rs 336 crore for the sale and purchase of gold. Similarly, a Ludhiana-based firm had made a gold sale-purchase against fake bills worth Rs 424 crore.
Cheema, who also holds the Excise and Taxation department portfolio, said, "On inspection of a firm dealing in gold in Amritsar, the enforcement wing found that fake bills of gold worth Rs 336 crore were made by the said firm for sale and purchase of gold".
The minister also revealed that 303 firms had made fake sale-purchase of iron worth Rs 4,044 crore, with 11 firms registered in Punjab, 86 firms in other states, and 206 firms with the central government. The state taxation department has taken action against all 11 firms, cancelling or suspending their registration, and blocking an outstanding ITC of Rs 89.7 crore.
"A total fake ITC of Rs 707 crore was claimed in this case," he said.
Cheema also mentioned that 68 firms involved in fake billing registered in other persons' names had been identified, with five persons named in an FIR filed in Ludhiana. The department is taking steps to prevent tax evasion by linking GST registration in the state with Aadhaar-based biometric authentication to identify and catch persons registering in others' names.
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