The anti-evasion unit of CGST probing fake firms issuing invoices to claim input tax credits raided the residential premises of an accused wanted in 8 ongoing investigation cases of GST frauds and seized bogus invoices of Rs 132 crores.
The accused had floated a total of 36 fake GST firms and established a network to pass-on fake Input Tax Credit to shell companies.
Fake invoice racket of Rs 132 crores to avail input tax credit of Rs 23 crores was busted by the CGST Commissionerate, Bhiwandi and a trader arrested for operating fictitious companies.
Acting on specific intelligence, the anti-evasion wing of CGST Bhiwandi Commsissionerate was investigating various fake firms identified as Mectech Steel Trading Private Limited, UGSK Trader, M/s World Enterprises, Rolex Enterprises, HHT Enterprises and Yesh Enterprises with direct between the companies and the accused mastermind.
Based on material evidence gathered during the investigation, the aforesaid accused mastermind was arrested on 09.09.22 under section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.
