A total of eight companies were involved in the trade of iron and steel production.
One among those eight suspects was arrested and Rs 19.75 crore was recovered from him as per Central GST Commissionerate.
The fake invoices that were recovered had a credit amount of Rs 1,289 crore and tax credit about Rs 224 crore.
The Central GST officials have found few companies with tax frauds of Rs 224 crore along with fake invoices worth Rs 1,289 crore.
A total of eight companies were involved in the trade of iron and steel production.
One among those eight suspects was arrested and Rs 19.75 crore was recovered from him as per Central GST Commissionerate.
Several other documents were also recovered during the search in residential and official premises of the companies.
It is also found that the company has been generating fake TMT bars, MS bars, MS flats and were also sending the tax credits to other taxpayers within the same group.
The fake invoices that were recovered had a credit amount of Rs 1,289 crore and tax credit about Rs 224 crore.
Five of all the taxpayers were working in the same address of the company. The companies were also involved in fraudulent trading to increase their turnover.
