DGGI Exposes Rs. 102 Crore Bogus Billing Scam Orchestrated Using 23 Fake Firms; Two Key Accused Arrested:

DGGI Exposes Rs. 102 Crore Bogus Billing Scam Orchestrated Using 23 Fake Firms; Two Key Accused Arrested The Directorate General of GST Intelligence (DGGI), Ahmedabad Zonal Unit, has apprehended two individuals for reportedly masterminding a bogus billing scam of Rs. 102.25 crore. They are presently in custody under Section 69 of the CGST Act, 2017. The accused, Vaibhav Boricha and Jatin Sakariya, fraudulently claimed and transferred ITC (Input Tax Credit).

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The arrest was made following some coordinated searches held at multiple locations associated with the accused and their associates. During the search operation, officials found incriminating documents, mobile phones, and other electronic devices, which were immediately confiscated and are currently under inspection. As per DGGI (Directorate General of Goods and Services Tax Intelligence), the accused used to run 23 fake companies, among which 14 were actively being used to generate bogus tax invoices. The investigation uncovered that the invoices amounted to a total of Rs. 545 crore, which are alleged to have been issued without actual movement of goods. Further, it was exposed that Angadia firms were allegedly used to move and circulate cash as part of the scheme.

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Sakariya is believed to have managed GST registrations and filed tax returns for various firms. He also worked with beneficiary companies and helped create fake bills so they could wrongly claim Input Tax Credit (ITC).