Massive fake invoice racket busted by DGGI, Nagpur Zonal Unit in the first week of March 2021 – Fraudulent transactions of app. 500 Crores by 18 non-existent firms based in Jalgaon, Mumbai and Pune detected – Main Mastermind located and arrested https://www.taxtmi.com/news?id=23825 Investigations uncovered 18 non existent firms created to generate sham GST transactions and fraudulent Input Tax Credit claims, operated using stolen PANs, bank details and contact information; the central organiser admitted floating the dummy entities, some documents were recovered during searches, and the organiser was arrested for offences under clause (b) and (c) of sub Section (1) of Section 132 of the CGST Act. en-us Tue, 09 Mar 2021 18:55:01 +0530 Tue, 09 Mar 2021 18:55:01 +0530 TaxTMI RSS Generator Massive fake invoice racket busted by DGGI, Nagpur Zonal Unit in the first week of March 2021 – Fraudulent transactions of app. 500 Crores by 18 non-existent firms based in Jalgaon, Mumbai and Pune detected – Main Mastermind located and arrested https://www.taxtmi.com/news?id=23825 Investigations uncovered 18 non existent firms created to generate sham GST transactions and fraudulent Input Tax Credit claims, operated using stolen PANs, bank details and contact information; the central organiser admitted floating the dummy entities, some documents were recovered during searches, and the organiser was arrested for offences under clause (b) and (c) of sub Section (1) of Section 132 of the CGST Act. News - Tue, 09 Mar 2021 18:55:01 +0530 https://www.taxtmi.com/news?id=23825