GST Commissionerate busts fake invoices racket in Delhi

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Published: November 16, 2019 9:13:27 PM

Till now, 15 buyer firms have already admitted their liability vide their voluntary statement and further deposited voluntarily about Rs 1.30 crore towards ITC wrongly availed, interest and penalty.

GST, fake invoices, GST fake invoices, GST invoices, GST fake bills, GST evasionThe fake invoices without actual supply of goods and services were allegedly being issued by Royal Sales India and 27 other dummy companies.

Central GST Delhi-West Commissionerate has busted a racket involved in the issuance of fake invoices and defrauding the exchequer to the tune of Rs 108 crore, an official release said on Saturday. The fake invoices without actual supply of goods and services were allegedly being issued by Royal Sales India and 27 other dummy companies.

Two persons have been arrested in connection with the case and remanded to 14 days judicial custody by a local court. The release said the accused were found to be operating 28 fake companies to facilitate fraudulent Input Tax Credit (ITC), thus defrauding the exchequer.

“Prima facie, fraudulent ITC of about Rs 108 crore has been passed on using invoices involving an amount of Rs 900 crore. Final duty is subject to the outcome of the investigation,” it said.

Till now, 15 buyer firms have already admitted their liability vide their voluntary statement and further deposited voluntarily about Rs 1.30 crore towards ITC wrongly availed, interest and penalty. Also, about Rs 1.58 crore has been frozen in bank accounts of these fake firms. Further investigations are underway to identify key beneficiaries of the alleged fraud and to recover GST involved.

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