Fake invoice and ITC trading racked busted by Pune CGST Commssionerate
Fake invoice and ITC trading racked busted by Pune CGST Commssionerate
Pune, 06 August 24
Officers of Anti-Evasion, Pune-II, CGST Commssionerate, Pune Zone, acting upon intelligence, booked cases of issuance of fake invoices by various fake/bogus firms who were availing,passing illicit Input Tax Credit (ITC). These firms which existed only on paper were run by a syndicate. The chain also includes Govt. contractors who received fake ITC through fraudulent invoices without actual supply of goods and services. Total ITC generated and availed fraudulently in the case is Rs 20 crores. An amount of Rs 3.25 crores has been recovered till now.
Two residents of Pune, the masterminds of this syndicate have been arrested. From investigation, so far it has come to surface that formal and informal banking channels have been used by the syndicate in collusion with Govt. contractors involved in fake invoice trading.
