In a major crackdown, the Central Goods & Services Tax (CGST) Commissionerate, Ludhiana, has unearthed a fake GST invoice racket amounting to ₹455 crore in the iron and steel sector. Acting on specific intelligence, officials conducted multiple search operations in Ludhiana on September 16, exposing large-scale tax fraud.

According to CGST Ludhiana, the investigation revealed that three related firms, M/s Vasu Multimetals, M/s SVM Multimetals Private Limited and M/s Ingottastic LLP were engaged in availing bogus invoices. The firms allegedly utilized ineligible Input Tax Credit (ITC) worth ₹69.41 crore to offset GST liabilities, causing significant revenue loss to the government.

During the operations, officers arrested two individuals, a father son duo, who were found to be operating and controlling the firms. They were taken into custody under provisions of the Central GST Act, 2017, and have been remanded to judicial custody.

Officials confirmed that the probe is still underway to trace the wider network and identify other entities involved in the scam.

Reiterating its resolve, the CGST Ludhiana Commissionerate stated that it remains committed to detecting tax frauds and ensuring a level playing field for honest taxpayers.

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