DGGI Nagpur unit busts fake GST invoice network in Delhi-NCR – The Financial Express

Clipped from: https://www.financialexpress.com/economy/dggi-nagpur-unit-busts-fake-gst-invoice-network-in-delhi-ncr/2211495/

In the first fake invoice network, six of these 11 NCR-based entities had made bogus transactions of goods with the Nashik- and Dhule-based entities, while four of them shared common Permanent Account Numbers (PANs) with other entities.

These 10 NCR-based entities had themselves availed fraudulent input tax credit of Rs 315.65 crore and passed on a part of this fraudulent ITC to the Nashik- and Dhule-based entities.

As part of the ongoing drive against fake invoices, Directorate General of GST Intelligence’s (DGGI) Nagpur unit conducted multiple searches in Delhi-NCR during the first week of this month, to target 11 entities operating in the NCR that had made fake supplies to Maharashtra-based entities.

The targeted searches showed that these 11 entities were non-existent at the declared addresses which were found to be religious places, residences of unrelated persons or non-existent on the ground, DGGI Nagpur said in a statement.

In the first fake invoice network, six of these 11 NCR-based entities had made bogus transactions of goods with the Nashik- and Dhule-based entities, while four of them shared common Permanent Account Numbers (PANs) with other entities.

These 10 NCR-based entities had themselves availed fraudulent input tax credit of Rs 315.65 crore and passed on a part of this fraudulent ITC to the Nashik- and Dhule-based entities.

In another fake invoice network, an NCR-based entity had passed on fraudulent input tax credit of Rs 145.69 crore without any corresponding inward supplies. And, a large part of this fraudulent ITC was passed on to some entities of the first network that had further passed on this fraudulent ITC to the Nashik- and Dhule-based entities.

Thus, the two major fake invoice networks, consisting of 11 NCR-based entities operating between Nashik/Dhule and NCR, engaged in fraudulent transactions of about Rs 2,563 crore involving fake ITC of Rs 461.34 crore.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s