Telangana: Firm accused of evading tax of Rs 100 crore through fake bills
The Telangana state commercial tax department has unearthed a tax fraud of Rs 100 crore by a city-based private firm, Kishan Industries LLP, which prepared fake high-value tax invoices for supply of copper material without movement of goods.
The Telangana state commercial tax department has unearthed a tax fraud of Rs 100 crore by a city-based private firm, Kishan Industries LLP, which prepared fake high-value tax invoices for supply of copper material without movement of goods.
This is the first such case in Telangana where a company collected invoices of such a high value without supplying the goods.
The fraud allowed the company to illegally claim Rs 33.20 crore in input tax credit, thereby reducing the company’s output tax. This is the first such case in Telangana where a company collected invoices of such a high value without supplying the goods.
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