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Tax Fraud: Major fake invoicing racket of Rs 7,896 cr busted in Delhi

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New Delhi, March 3, 2020 –

The Anti Evasion wing of Central Tax, Delhi West Commissionerate has busted a major racket of fake invoices of Rs 7,896 crore used for claiming refunds of Input Tax Credit (ITC) worth Rs 1,709 crore.

As many as 23 shell companies were floated by fraudsters to procure and generate invoices without actual supply of goods and avail as well as passed on ITC.

The authorities have arrested two persons on February 29, in this matter.

A Finance Ministry statement said that accused persons were evading tax by creating several dummy firms for the purpose of passing on ITC by generation of fake invoices.

The accused also used banking transactions to make ITC appear genuine.

As per preliminary inventions the modus operandi of the accused involved shell companies being used to issue the fake invoices to buyers. The buyers then availed fraudulent input tax credit without actually receiving any goods and defrauded the exchequer by way of availing ineligible ITC towards GST liability.

They were caught in their hideout with several mobile phones, computers and incriminating documents, the ministry statement said.

The accused have committed offences under Section 132(1)(b) and Section 132(1)(c) of CGST Act, 2017 which are cognizable and non-bailable offences as per the provisions of Section 132 (5) and punishable under Clause (i) of Sub section (1) of Section 132 of the CGST Act, 2017.

Accordingly, the accused were arrested on February 29 under Section 69(1) of the CGST Act, 2017 and remanded to fourteen days judicial custody by the Chief Metropolitan Magistrate, Patiala House Court.

Further investigation in the matter is under progress.  (Agency)

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