Daijiworld Media Network - Kolkata
Kolkata, Sep 30: In a significant development in the ongoing probe into one of the largest GST input tax credit (ITC) frauds in eastern India, the Enforcement Directorate (ED) has attached 10 immovable properties worth Rs 15.41 crore in Kolkata and Howrah. The properties belong to Amit Gupta, identified as a key architect of the syndicate, and his close aides.
The attachments, made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, take the total value of assets seized in the case to Rs 20.70 crore so far. The ED initiated its investigation following a complaint by the Jamshedpur unit of the Directorate General of GST Intelligence (DGGI).
According to ED findings, the fraud was orchestrated through a network of shell companies floated across Jharkhand, West Bengal, and Odisha. These entities generated fake GST invoices worth approximately Rs 794 crore without any actual supply of goods. The bogus input tax credits generated from these invoices were sold to end-users for large commissions.
The ED estimates that the masterminds of the scam pocketed commissions totalling Rs 67 crore. These illegal earnings were subsequently laundered into real estate assets, many of which were purchased in the names of family members and associates to evade scrutiny.
Amit Gupta played a central role in handling the syndicate's finances and orchestrated the laundering of the proceeds of crime. Following the DGGI’s initial crackdown, Gupta began systematically transferring properties to trusted associates in an effort to hide the assets.
Along with Gupta, three others — Sumit Gupta, Amit Agarwal, and S.K. Deora — have been arrested and are currently in judicial custody. A prosecution complaint has already been filed before the Special PMLA Court in Ranchi, which has taken cognisance of the case.
Earlier, on July 3, 2025, the ED had provisionally attached properties worth Rs 5.29 crore belonging to S.K. Deora, another prime accused in the scam. The latest attachments are part of the ED’s ongoing efforts to trace and recover assets linked to the proceeds of crime in what appears to be a sprawling, multi-state tax evasion and laundering operation.
Further investigation is in progress to identify additional assets and individuals involved.