https://www.taxtmi.com/news?id=23804 A network of fictitious intermediary companies and non-existent suppliers was used to generate and pass bogus Input Tax Credit to corporate entities without actual supply, quantifiable as over Rs. 392 crore of ITC passed through bogus invoices exceeding Rs. 3,000 crore. Two former employees are accused of a deliberate criminal conspiracy to defraud the Government and were arrested and remanded; investigations under the CGST Act are ongoing. en-us Fri, 05 Mar 2021 14:30:05 +0530 Fri, 05 Mar 2021 14:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23804 A network of fictitious intermediary companies and non-existent suppliers was used to generate and pass bogus Input Tax Credit to corporate entities without actual supply, quantifiable as over Rs. 392 crore of ITC passed through bogus invoices exceeding Rs. 3,000 crore. Two former employees are accused of a deliberate criminal conspiracy to defraud the Government and were arrested and remanded; investigations under the CGST Act are ongoing. News - Fri, 05 Mar 2021 14:30:05 +0530 https://www.taxtmi.com/news?id=23804