Mastermind in fake invoices racket held
Visakhapatnam: In a significant breakthrough, officers of the Anti-Evasion, Visakhapatnam CGST Commissionerate, have arrested the mastermind behind generating fake invoices worth Rs. 81.25 crore through various entities he controlled or operated. The total GST amount involved in these transactions is Rs. 11.54 crore.
The mastermind allegedly availed and utilised fake Goods and Services Tax (GST) Input Tax Credit, resulting in a loss of Rs. 11.54 crore to the government exchequer.
Inspections and searches were conducted at various premises of firms linked to the mastermind to uncover the fraudulent availment and utilisation of ITC without the actual supply of goods or services by the entities he controlled.
The mastermind, a resident of Visakhapatnam, was arrested under section 69 of the CGST Act-2017. He was produced before the Special Judge Economic Offences Court, Visakhapatnam, and remanded to Judicial Custody for 14 days. This arrest represents a significant milestone in preventing loss to the government exchequer and boosting confidence in genuine and law-abiding taxpayers, in light of the department's efforts to combat fraudulent ITC cases and protect the integrity of the GST system.
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