CGST Officials arrest one after busting network of 46 fake firms involved in fake input tax credit of 82.23 crore

CGST Officials arrest one after busting network of 46 fake firms involved in fake input tax credit of 82.23 crore https://www.taxtmi.com/news?id=23711 A network of 46 fictitious firms operating since 2017 was identified using data analytics as generating and passing on fake input tax credit. Officers arrested key operators, who confessed to raising fake invoices through the racket; alleged fake invoicing and fake ITC have been quantified and are expected to increase as the ongoing investigation and prosecution under the CGST framework proceed. en-us Wed, 10 Feb 2021 09:23:49 +0530 Wed, 10 Feb 2021 09:23:49 +0530 TaxTMI RSS Generator CGST Officials arrest one after busting network of 46 fake firms involved in fake input tax credit of 82.23 crore https://www.taxtmi.com/news?id=23711 A network of 46 fictitious firms operating since 2017 was identified using data analytics as generating and passing on fake input tax credit. Officers arrested key operators, who confessed to raising fake invoices through the racket; alleged fake invoicing and fake ITC have been quantified and are expected to increase as the ongoing investigation and prosecution under the CGST framework proceed. News - Wed, 10 Feb 2021 09:23:49 +0530 https://www.taxtmi.com/news?id=23711