GST officials bust fake invoicing racket


PTI, Mar 3, 2020, 2:46 PM IST

New Delhi: GST officers in Delhi have busted a racket of fake invoicing worth Rs 7,896 crore using a network of 23 shell companies.

The officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate have busted a major racket of fake invoicing of Rs 7,896 crore involving fraudulent Input Tax Credit (ITC) of Rs 1,709 crore, using a network of 23 shell companies, Finance Ministry said in a statement.

These companies procured and generated invoices without the actual supply of goods and availed as well as passed on the input tax credit.

Two persons were arrested on February 29 and were remanded to 14 days judicial custody.

The accused persons were evading tax by creating several dummy firms for the purpose of passing on input tax credit by generating fake invoices.

“They also used banking transactions to make input tax credit appear genuine. These firms issued the fake invoices to buyers, who availed fraudulent input tax credit without actually receiving any goods and defrauded the exchequer by way of availing ineligible input tax credit towards GST liability, the statement added.

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