Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.
City-based scrap businessman Bablu Jaiswal alias Gyanchand Jaiswal was arrested by GST Intelligence on Tuesday in a Rs 55.66 crore GST scam. Bablu Jaiswal, a resident of Bishtupur Contractors Area, was arrested by the GST Intelligence team before the Economic Officer of the Jamshedpur Court.
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The businessman had complained of illness and an increase in the sugar level. Taking advantage of input tax credit, ITC under the Central Government’s GST, they took money from the government through fake bills. Bablu Jaiswal committed a scam of Input Tax Credit (ITC) under GST of Rs 55.66 crore in the name of three companies Jai Bhole Enterprises, Gyandeep Scrap Pvt Ltd and Ibhran Scrap Pvt Ltd. Bablu Jaiswal has committed a fraud by making a tribal Panchan and Sardar a fake director in Jai Bhole Enterprises. While Bablu Jaiswal himself is a director of Makers Costing Company. A fraud of Rs 1.93 crore has been done in the name of this company. A GST fraud case of Rs 44 crore is pending against Bablu Jaiswal four years ago.
Court Room Live: Argument before being sent to police remand in the special court. There was a long argument in the Jamshedpur court before Bablu Jaiswal was sent to jail in judicial custody. Bablu Jaiswal was brought to court at three in the afternoon. In court, GST department advocate Sanjeev Ranjan Bariyar argued for sending the businessman to jail on remand, while advocate Prakash Jha argued for the defense side. There was a long debate for about three and a half hours. At 7.45 pm, the special court gave the decision to send Bablu Jaiswal to jail in police custody. Bablu Jaiswal’s arrest is the fifth in the GST scam. Bablu Jaiswal has an iron business. Before this, iron businessman Vicky Bhalotia from Jugsalai, businessman Shiv Kumar Deuda from Kolkata Salt Lake and two brothers Amit Gupta and Sumit Gupta have been arrested and sent to jail. The main accused in this case, a resident of Ranchi Vivek Narsariya, is still absconding.
GST Intelligence revealed the case where Shiv Kumar Deuda of Kolkata was accused of fraud worth crores of rupees through fake bills. An investigation has revealed that the syndicate created more than 100 shell companies for GST fraud. These businessmen have committed scams by creating fake companies in the name of women and workers. The GST department alleges that a scam of around Rs 5000 crore has been perpetrated by a syndicate of businessmen from Kolkata and the city, which has been done by creating shell companies.
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