The ED’s Ranchi Zonal Office is conducting search and seizure operations at four locations (three in Jamshedpur, Jharkhand, and one in Kolkata) under Section 17 of the PMLA, 2002, in connection with a GST ITC scam (involving Shiv Kumar Devra and others).
The premises being searched are linked to Gyan Chand Jaiswal (alias Bablu Jaiswal), Sanjay Parekh (Gyan Chand Jaiswal’s accountant), and others.
Gyan Chand Jaiswal availed fraudulent GST Input Tax Credit (ITC) by obtaining invoices from companies that did not actually exist, without any supply of goods taking place.
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