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GST officers have unearthed two fake billing rackets involving 246 shell/fake entities involved in fraudulently passing input tax credit (ITC) of Rs 557 crore and arrested three key operatives.
Rajkot: The Rajkot CGST commissionerate has busted a fake billing racket and unearthed transactions worth Rs 217 crore since financial year 2021-22.
Tax officers will give reasonable time to traders to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B