Ranchi, Jharkhand – The Directorate of Enforcement (ED) has taken decisive action in a massive Rs 734 crore Goods and Services Tax (GST) input tax credit (ITC) fraud case, filing a prosecution complaint against four alleged masterminds. The complaint was submitted to a special Prevention of Money Laundering Act (PMLA) court in Ranchi.
Thank you for reading this post, don't forget to subscribe!The four individuals named in the complaint are Shiva Kumar Deora, Mohit Deora, Amit Kumar Gupta, and Amit Agrawal. All were arrested under the PMLA on May 8th and are currently in judicial custody.
The ED’s investigation was prompted by multiple complaints from the Directorate General of GST Intelligence, Jamshedpur, which initially uncovered the sophisticated scheme involving the generation and circulation of fake ITC.
According to the ED, Shiva Kumar Deora and his associates allegedly created approximately 135 shell companies. These companies were then used to issue fake invoices valued at around Rs 5,000 crore without any actual supply of goods or services. This elaborate setup allowed them to generate fake ITC worth Rs 734 crore, which was subsequently sold on commission to various firms, enabling those firms to evade their own legitimate GST liabilities.
As part of their ongoing efforts, the ED has identified and attached immovable properties valued at Rs 5.29 crore. They have also seized cash amounting to Rs 8.98 crore and frozen bank balances totaling Rs 62.90 lakh. The investigative agency had previously conducted search operations in both Jharkhand and West Bengal in connection with this case.
