In a significant breakthrough, officers of Anti-Evasion, Visakhapatnam CGST Commissionerate, arrested the mastermind behind the generation of fake invoices to the tune of Rs 81.25 crore through various entities controlled or operated by him. The total GST amount involved in the transactions was 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 govt exchequer.
Inspections and searches were conducted at various premises of firms linked to the mastermind to unearth the fraudulent utilisation of ITC without actual supply of goods or services by entities controlled or operated by the mastermind. The mastermind, a resident of Vizag, was arrested under Section 69 of the CGST Act 2017. The accused was produced before the special judge, Economic Offences court, in Vizag. The court remanded the accused to judicial custody for 14 days.
In light of the department’s efforts to combat fraudulent ITC cases and protect the integrity of the GST system, the arrest represents a significant milestone in preventing loss to the govt exchequer and boosting confidence among genuine and law-abiding taxpayers.
Source from: https://timesofindia.indiatimes.com/city/vijayawada/mastermind-arrested-for-creating-fake-gst-invoices-in-vizag/articleshowprint/128651498.cms
