Daijiworld Media Network – Mumbai (MS)

Mumbai, Feb 5: Fake invoices racket amounting to Rs 1650 crore of fake bullion invoices and fake Input Tax Credit (ITC) to the tune of Rs 49.7 crore was unearthed by the sleuths of CGST of south area of the city.

Additional CMM court remanded the accused to judicial custody. The arrested accused had created Balaji enterprises, Kismat Enterprises and Karnataka jewellers. On these three companies he had availed fake ITC amounting to Rs 29.4 crore. While he also claimed Rs 20.27 crore on Gajamukhi Bullion, one more fake firm. The proprietor of Golden Bullion was taken into custody earlier for the same reason.

During interrogation the officers of CGST came to know that the accused had created fictitious firms in places like Bikaner, Belgaum and Mumbai. He is remanded to 14 days of judicial custody. Other people involved in this fraud are also being traced by CGST officers.

In the last five months CGST Mumbai zone has arrested seven people and recovered seven crore of tax from them. The office uses data analysis and network analysis tools to identify the fraudsters. The officers said that the drive will further intensify throughout the city.