DGGI busts fake invoice racket of over Rs 85 crore
   Date :08-Mar-2020

DGGI_1  H x W:
 
 
 
Business Bureau :
 
On the basis of information regarding issuance of fake invoices and availment of fraudulent input credit, simultaneous searches were conducted by the officers of DGGI, Nagpur Zonal Unit on six taxpayers located across Maharashtra at Nagpur, Malegaon and Ahmednagar. Preliminary investigations have revealed that these taxpayers had cumulatively received and issued fake invoices valued at over Rs 85 crore and had availed fraudulent input credit of Rs 7.95 crore.
 
The goods involved in the fake transactions were copper, scrap, ferrous scrap, sponge iron, MS billets, MS flats/angles etc. On interrogation of the authorised persons during the searches, the fact of availing fraudulent Input Tax Credit was admitted by them. On sustained persuasion, an amount of Rs 1.43 crore has been paid by the taxpayers in cash on Friday. The proprietors of three taxpayer firms are absconding and searches are being launched to trace them.