8 months ago

Fake invoice, ITC trading racket busted

Acting on intelligence, officers of anti-evasion, Pune-II, Central Goods and Services Tax Commissionerate, Pune Zone has booked a case of issuance of fake invoices by various bogus firms to avail, pass ineligible input tax credit, officials said on Tuesday. The probe reveals that formal and informal banking channels have been used by the syndicate in collusion with government contractors involved in fake invoice trading. The chain also included government contractors who received fake ITC through fraudulent invoices without actual supply of goods and services,” a Press Information Bureau release stated. Of the ₹20 crore collected fraudulently by the accused, the office has recovered ₹3.25 crore.

Hindustan Times
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