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DGGI books 3 firms for GST evasion, issuing fake invoice

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New Delhi, March 4, 2020-

In yet another crack-down on tax evaders, the Directorate General of GST Intelligence (DGGI) has booked three firms for issuance of fake invoices, without actual supply of goods, worth Rs 4,198 crores.

The three firms booked by the anti-evasion authority are Fortune Graphics Ltd, Reema Polychem Pvt Ltd and Ganpati Enterprises.

A Finance Ministry statement said that the case was detected by officers using data analytics out of a case booked against exporter Anannya Exim. It was covered in the all India operation launched by DGGI-DRI in September last year against various exporters for fraudulently claimed IGST refund on the strength of ineligible ITCs.

“During investigation, it was revealed that M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited & M/s Ganpati Enterprises have issued invoices worth more than Rs 4,198 crore wherein tax amount of more than Rs 660 crore has been fraudulently passed on as ITC (input tax credit) to buyers of such fake invoices,” the official statement said.

In the course of investigation, it was also found that the Directorate of Revenue Intelligence (DRI) had booked a case of diversion of duty-free goods imported under advance authorisation scheme by Reema Polychem Pvt Ltd.

One of the directors of Reema Polychem Pvt Ltd has been arrested under Section 69(1) of CGST Act, 2017 for offences under the provisions of Sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017.

“Role of other directors of these three firms is under investigation. Further investigations are in progress,” the Ministry said.  (Agency)

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