CGST Mumbai Busted Fake ITC Racket; One Person Arrested

The Central Goods and Services Tax (CGST), Bhiwandi Commissionerate in Mumbai Zone busted a fake invoice racket involving issuance of invoices worth Rs.164 crore and passing on Input Tax credit (ITC) of Rs.17 crore, on Thursday.

Deepak Turkar, the alleged syndicate’s kingpin was detained. The anti-evasion wing of the CGST Bhiwandi Commissionerate was looking into Raj Enterprises, a fictitious business whose suppliers and recipients were also discovered to be fake. These companies created a network for obtaining and disseminating fraudulent ITC.

Officers claimed that the investigation had shown that the accused had been involved in starting and running the business by forging documents from individuals with less-than-stellar financial backgrounds.