Anti-Evasion wing CGST Delhi busts multi-cr fraud

Last Modified Friday, 27 December 2019 (10:52 IST)
New Delhi:A well-organised racket to  create bogus firms, issue fake invoices and bogus e-way bills to  generate and encash tax credits, running into hundreds of crores, has been unearthed, according to Anti-wing of on Thursday.
''The Anti-Evasion wing of CGST Delhi South Commissionerate has discovered here today yet another case of fake invoicing and GST fraud alongside a new modus operandi of defrauding the exchequer by exploiting the facility of refunds given for inverted duty structure,'' Ministry of Finance said in a statement. 
 
Over 120 entities,involved in the transactions, have come to light so far, involving fake invoicing of Rs 1,600 crores and tax evasion of Rs 241 crore.
 
The main culprit was arrested as per the provisions of Section 69 of the CGST Act, 2017 and produced before judicial magistrate today itself. The racketeer, who has been remanded to 10 days of judicial custody,  had created several firms on the basis of unauthorised access to identity documents of various persons.
 
New modus operandi was uncovered by a team of investigators who worked unceasingly over many weeks to uncover the maze of companies created across India. Incriminating electronic evidence has been recovered from the premises of the accused, added North Block.(UNI)