💨 Abstract

The Enforcement Directorate conducted raids in Jharkhand and West Bengal as part of a money laundering probe linked to fake GST invoices. At least nine locations in Ranchi, Jamshedpur, and Kolkata were searched. The investigation targets Shiv Kumar Deora, Sumit Gupta, and Amit Gupta, who allegedly created ₹14,325 crore in fraudulent invoices, leading to ₹800 crore in illegitimate input tax credit claims.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖