Hyderabad, July 31 (Maxim News): In a major crackdown on tax fraud, the Telangana State Commercial Taxes Department has exposed an alleged Rs. 100 crore tax evasion scam involving Keshan Industries LLP, a Hyderabad-based private firm operating in the copper trading business.
According to officials, the company reportedly generated high-value GST invoices for the supply of copper materials without any actual movement of goods — a fraudulent practice commonly referred to as “bill trading” or issuing bogus invoices.
No Goods, Only Paper Trails
Investigations revealed that the firm claimed input tax credit (ITC) by raising invoices for large-scale copper supplies, while vehicles shown in transport records were found empty or non-existent. Officials suspect that the transport documents were fabricated and used to falsely claim GST benefits without any real transactions taking place.
“This appears to be a classic case of circular trading and paper billing with no genuine movement of goods,” said a senior official from the Commercial Taxes Department. “We are closely examining logistics documents and e-way bills generated by the company.”
How the Scam Unfolded
- Fake invoices were raised for copper supplies worth over ₹100 crore.
- Input Tax Credit (ITC) was fraudulently claimed on non-existent transactions.
- E-way bills and transport data point to empty vehicle movements or no dispatch at all.
- The firm is suspected of being part of a larger network engaged in GST fraud.
The department is now tracking down other entities that may have benefited from these bogus transactions. Forensic audits and further investigation into Keshaan Industries’ financials are underway.
Impact and Further Action
The case has raised concerns about the growing trend of GST invoice frauds in the trading sector. Officials stated that strict action would be taken under the GST Act, which may include penalties, interest recovery, and possible arrests under provisions of tax evasion and fraud.
“The government is committed to cracking down on fake invoice rackets. Businesses involved in such malpractices will face the full force of the law,” the official added.
A Wake-Up Call for Traders
This case serves as a reminder for businesses to maintain transparent invoicing practices and ensure all tax claims are backed by authentic transactions. The Telangana tax authorities have also urged traders and transporters to verify invoices and report suspicious activity.
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