Goods and Services Tax – GST Dated:- 27-11-2019 – News – Central GST Delhi North Commissionerate has unearthed a racket involving supply of goods-less invoices and invoice-less goods. One person has been arrested and remanded to judicial custody for 14 days by the Chief Metropolitan Magistrate (CMM), New Delhi at Patiala House Courts. The accused was found to be operating 10 fake firms which were created for rotation of money and fraudulent Input Tax Credit (ITC), thus defrauding the Exchequer. Prima facie fraudulent ITC of about ₹ 140 crores has been passed on using invoices involving an amount of ₹ 1,040 crores. The modus operandi of the accused, inter alia, involved obtaining GST registration of fake firms usin
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