Officers of CGST Bhiwandi Commissionerate in Mumbai Zone have busted two separate fake GST invoice rackets, which was used to avail and pass on fake Input Tax Credit (ITC) of around Rs. 23 crore on bogus invoices of Rs 55 crore. Two persons, proprietors of M/s M. M. Buildcon / Lambodar Buildcon and M/s. Vishwakarma Enterprises, have been arrested on August 18, 2022 under CGST Act.
Acting on a specific input, the anti-evasion wing of CGST Bhiwandi Commissionerate initiated an investigation against these firm. During the investigation both the firms found to be non-existing/ fake. In the statements, the proprietors admitted to the fraud and tax evasion. Further, Input Tax Credit (ITC) to the tune of Rs. 23 crore is availed and passed on the basis of fake invoices issued by non-existent/ fake/non-genuine firms/dummy firms.
Based on material evidence gathered during the investigation, the proprietors of both firms were arrested on August 18, 2022 under Section 69 of CGST Act, 2017 for contravention of Section 132 of the CGST Act, 2017.
This case is a part of the special drive launched by the CGST Mumbai Zone against the tax fraudsters and fake ITC networks. These are 15th and 16th arrest by CGST Bhiwandi Commissionerate in last one year.
CGST officers are using data analysis and network analysis tools to identify and trace the potential fraudsters. CGST officers will intensify this drive against tax evaders in the coming days.
Source from: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1853119
Live GST Course on:
Scrutiny Notices, Assessment, Audit, Inspection, Search, Seizure and Arrest under GST by CA. Bimal Jain
3 Day | 3 Session | 9 Hours
September 03 | 3:00 – 6:00 PM, September 04, September 11 | 10:00 AM – 1:00 PM (IST)
2,999/- (Inclusive of GST)
Register Now !!
https://www.a2ztaxcorp.in/product/gst-course-new/
For details, or any queries,
Call us at: 8076563802, 011 42427056 or E-Mail us at: info@a2ztaxcorp.com, intern@a2ztaxcorp.com or Visit: www.a2ztaxcorp.in