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Nation Current Affairs 11 Jul 2019 Easy to start a bogu ...

Easy to start a bogus firm, finds DNC probe

DECCAN CHRONICLE. | COREENA SUARES
Published Jul 11, 2019, 7:00 am IST
Updated Jul 11, 2019, 7:00 am IST
After the fraud was discovered Rs 6 crore has been recovered.
Investigation found that opening a bogus firm is a cakewalk as it only needs one to get an online registration by uploading Aadhaar and PAN details and a rental agreement, and declaring the product. (Representional Image)
 Investigation found that opening a bogus firm is a cakewalk as it only needs one to get an online registration by uploading Aadhaar and PAN details and a rental agreement, and declaring the product. (Representional Image)

Hyderabad: The Directorate General of GST Intelligence has booked a case against DNC Infrastructure Pvt Ltd for creating fake invoices to the tune of Rs 9 crore. After the fraud was discovered Rs 6 crore has been recovered.

Investigation found that opening a bogus firm is a cakewalk as it only needs one to get an online registration by uploading Aadhaar and PAN details and a rental agreement, and declaring the product. There is no mandate for the GST department to go and physically check the presence of the office.

 

An officer said, “Earlier, during company registration, physical checks were mandatory. Besides the building, the layout and other provisions were strictly verified and mandatory. The checks are much reduced now. The chain of bogus companies makes it difficult to trace the mother company.”

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Location: India, Telangana, Hyderabad


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