Acting on specific intelligence, officers of the Central Goods & Services Tax (CGST) Commissionerate, Ludhiana, conducted multiple search operations in the city on 16 September and unearthed a massive fake GST invoice racket worth ₹455 crore.
Three related firms — Vasu Multimetals, SVM Multimetals Private Limited, and Ingottastic LLP — were found involved in availing bogus invoices and fraudulently utilizing ineligible Input Tax Credit (ITC) worth ₹69.41 crore to offset their GST liabilities, thereby causing a significant loss to government revenue.
Following the operations, two individuals — a father-son duo who were operating and controlling these firms — were arrested under provisions of the Central GST Act, 2017, and remanded to judicial custody.
The investigation is ongoing to trace the entire network and identify other entities involved.
The CGST Ludhiana Commissionerate reaffirmed its commitment to detecting tax frauds and ensuring a level playing field for honest taxpayers.