Surat trading company linked to billing fraud worth crores, under GST scrutiny

A bogus billing fraud worth crores has come to light involving a company registered as National Trading Company in Palsana, near Surat.

Sources in the GST office revealed that the firm, under the name of National Trading Company and Solanki Enterprises, was allegedly involved in creating bogus bills and fraudulently claiming input tax credits.

The company allegedly opened bank accounts in the names of other individuals and appointed themselves as authorised persons to sign the cheques. They then used these accounts to conduct transactions worth crores in a short period.

Due to these suspicious transactions, banks sealed the accounts associated with the company and issued notices to the account holders. The banks have also placed these accounts under surveillance.

The GST department is currently investigating the matter, suspecting that the company might have fraudulently claimed input tax credits worth crores, possibly even billions. The department is also tracking down other accounts connected to the accused individuals.

Banks have been alerted about the fraudulent activities and are closely monitoring accounts linked to the accused individuals.

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