New Delhi, Jan. 20 -- The Enforcement Directorate (ED) is conducting search operations across Jharkhand, Manipur, Kolkata in connection with a massive fake Input Tax Credit (ITC) scam worth around Rs 658 crore.
The targeted premises of individuals and firms are suspected of being linked to the fraud. ED's Itanagar unit is spearheading the operation in coordination with state police forces.
According to investigators, the case involves firms accused of generating and availing of fraudulent ITC through fake invoices without any actual supply of goods or services. Such bogus claims, apart from draining the exchequer, are often tied to money laundering and shell company networks.
The case originates from an FIR of Itanagar Police Station, Ar...