ED Raids Multiple States in 658 Crore Fake ITC Scam; Bengal, Jharkhand Targeted

• The Enforcement Directorate (ED) conducted simultaneous raids in Jharkhand, Manipur, Kolkata, and other states.
• The raids are linked to a fake Input Tax Credit (ITC) scam amounting to approximately 658 crore rupees.
• The ED's Itanagar Zonal Unit team is leading the operation, targeting individuals and companies involved.
• Allegations suggest companies wrongly availed ITC using fake bills without actual goods or services, causing significant government losses.
• The scam involves 58 shell companies and is connected to an FIR in Itanagar, Arunachal Pradesh, naming Rakesh Sharma and Ashutosh Kumar Jha.

Why It Matters: ED launched multi-state raids against a 658 crore fake ITC scam involving shell companies and fraudulent claims.