https://www.taxtmi.com/news?id=23314 A large-scale scheme generated inadmissible input tax credit through fabricated billing and fictitious e way bills targeting the milk products sector; organisers used multiple shell firms to create bogus invoices for goods such as ghee and milk powder and pass erroneous ITC to beneficiary companies. The principal accused admitted involvement and was arrested under criminal tax offence provisions; enforcement recovered documentary evidence and a portion of the inadmissible ITC, and investigations continue to identify additional fictitious entities and beneficiaries. en-us Fri, 30 Oct 2020 09:25:07 +0530 Fri, 30 Oct 2020 09:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23314 A large-scale scheme generated inadmissible input tax credit through fabricated billing and fictitious e way bills targeting the milk products sector; organisers used multiple shell firms to create bogus invoices for goods such as ghee and milk powder and pass erroneous ITC to beneficiary companies. The principal accused admitted involvement and was arrested under criminal tax offence provisions; enforcement recovered documentary evidence and a portion of the inadmissible ITC, and investigations continue to identify additional fictitious entities and beneficiaries. News - Fri, 30 Oct 2020 09:25:07 +0530 https://www.taxtmi.com/news?id=23314