Goods and Services Tax – GST Dated:- 9-3-2021 – News – As a part of the ongoing drive against fake invoices, multiple searches were conducted by the officers of DGGI, Nashik Regional Unit of Nagpur Zonal Unit at a number of business premises and residential premises across Maharashtra. During the investigations, a number of entities which had obtained GST Registrations were found to be non-existent and it was observed that they had been floated exclusively for the purpose of engaging in fake GST transactions. The interrogations of the persons apprehended during the investigations revealed that a mastermind based in Jalgaon was behind the racket who had obtained the PAN numbers and Bank details of the persons to float these dummy entit
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egistrations at Mumbai, Pune and Jalgaon. These 18 fake firms were found to have engaged in fake transactions of almost ₹ 500 Crore without supply or receipt of any goods or services and had availed fraudulent Input Tax Credit of app. ₹ 46.50 Crores. For causing to commit and retaining the benefits arising out of offences specified under clause (b) and (c) of sub-Section (1) of Section 132 of the CGST Act, 2017 by way of setting up 18 fake and non-existent firms, including his own firm where he was the Proprietor, the mastermind was arrested on 5th March 2021 and was remanded to judicial custody till 19th March 2021. – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmanageme
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