DGGI Guwahati discovered a major fake invoicing racket involving fraudulent transactions of Rs.50 crore and used fake invoices to illegally claim ITC worth Rs. 9 crore.
Reetu | Dec 13, 2024 |
GST Intelligence Busted Fake Invoice Racket of Rs.50 Crore; One Arrested
The Directorate General of GST Intelligence (DGGI), Guwahati, discovered a major fake invoicing racket involving fraudulent transactions of Rs. 50 crore and arrested one person, namely Dharmendra Agarwal, who reportedly used fake invoices to illegally claim Input Tax Credit (ITC) worth Rs. 9 crore.
A DGGI official stated, “The racket involved around a dozen suspicious firms that issued fake bills. These invoices were apparently utilised by Agarwal, the authorised signatory of M/s Infrawo Enterprises in Dimapur, Nagaland, to claim the fake ITC.”
Following his arrest, Agarwal appeared before the Judicial Magistrate, who remanded him to 14 days in judicial custody. The magistrate also rejected his bail petition, recognising the gravity of the offence.
More arrests are expected as the agency ramps up the investigation on tax evasion through bogus invoicing.
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