Chandigarh, December 13:
The Punjab GST Department has uncovered a major bogus billing scam involving a Ludhiana-based firm, M/s Monga Brothers (Unit-II). The fraudulent transactions, spanning over two years, are estimated to be worth Rs 163 crore.
The department’s investigation revealed that the firm had created a network of 60 fictitious firms to generate fake input tax credit (ITC). These firms were either suspended, canceled, or had themselves procured inputs from fraudulent sources.
The Finance Minister, Harpal Singh Cheema, warned taxpayers against tax evasion and assured strict action against those found violating tax laws. The government is committed to ensuring a fair and transparent tax system in the state.
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The department has taken legal action against the partners of M/s Monga Brothers (Unit-II) under relevant sections of the Punjab GST Act.
