Close on the heels of nationwide drives by the Directorate General of GST Intelligence (DGGI) and the CGST commissionerates against GST fake invoice frauds and have arrested 104 unscrupulous persons for illegally availing or passing on input tax credit (ITC) fraudulently through fake entities and fly-by-night firms and circular trading, yet another major fake input tax credit (ITC) was busted by Director General of GST Intelligence, Visakhapatnam zone unit.
According to a release issued by the DGGI Joint Director Mayank Sharma here on Thursday, the accused who is 38 years old, was involved in issuing fake invoices to the tune of Rs 84 crore using three fraudulent GST registrations (without the knowledge of the proprietors) and was, in turn, getting commission from the recipient firms of such fake invoices. The entire operations were being operated from Proddatur.
DGGI Joint Director said various firms created with fictitious addresses in and around Guntur were identified and simultaneous searches carried out. The searches revealed that the mastermind behind the creation of these firms had passed on ineligible ITC of Rs 13 crore to various business entities in Andhra Pradesh and Telangana. The accused was located after sustained fieldwork and was arrested on Thursday. Further investigation is underway.
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