https://www.taxtmi.com/news?id=22579 Investigation disclosed a network of 23 shell companies issuing invoices without actual supply to generate and pass on fraudulent Input Tax Credit, using banking transactions to simulate legitimacy. The scheme implicated creation of dummy firms, issuance of fake invoices to enable ineligible ITC claims, and seizure of electronic evidence. Allegations were framed under Section 132 of the CGST Act and arrests effected under Section 69(1); the alleged offences are cognizable and non-bailable, and further investigation is ongoing. en-us Tue, 03 Mar 2020 16:24:52 +0530 Tue, 03 Mar 2020 16:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22579 Investigation disclosed a network of 23 shell companies issuing invoices without actual supply to generate and pass on fraudulent Input Tax Credit, using banking transactions to simulate legitimacy. The scheme implicated creation of dummy firms, issuance of fake invoices to enable ineligible ITC claims, and seizure of electronic evidence. Allegations were framed under Section 132 of the CGST Act and arrests effected under Section 69(1); the alleged offences are cognizable and non-bailable, and further investigation is ongoing. News - Tue, 03 Mar 2020 16:24:52 +0530 https://www.taxtmi.com/news?id=22579