Punjab Newsline, Chandigarh, July 26-
Punjab Cabinet Minister Harpal Cheema announced on Friday that an investigation by the state tax department's enforcement wing has uncovered fake billing scams worth thousands of crores. Two firms dealing in gold were found to have generated fake bills worth Rs.860 crore, while 303 firms dealing in iron were involved in fake billings of Rs 4044 crore. Additionally, 68 firms were found to have engaged in fake billing of Rs 533 crore after getting their firms registered in others' names.
During a press conference Cheema provided details on these cases. He informed that on inspection of a firm dealing in gold in Amritsar, the Enforcement Wing found that fake bills of gold worth 336 crores were made by the said firm for sale and purchase of gold. He said that the registration of the two firms from which said firm had shown that it purchased the gold had been cancelled, and these firms further had no record of purchasing any gold.
Referring to the Ludhiana-based firm which did similar manipulation in gold transactions, the Finance Minister said that gold sale-purchase was made against fake bills worth Rs 424 crores by the said firm.