https://www.taxtmi.com/news?id=25131 Investigation uncovered a coordinated fake invoicing and circular trading scheme operated through 54 bogus firms to generate illegitimate invoices and pass ineligible input tax credit; searches seized documentary and electronic evidence and preliminary enquiry attributes fake invoicing of approximately Rs. 611 crores and alleged tax evasion of over Rs. 38.5 crores. The cartel members have given confessional statements, and the accused are alleged to have committed offences under section 132(1)(b) and section 132(1)(c) of the CGST Act, 2017; three key persons have been arrested and remanded to judicial custody while investigation continues. en-us Thu, 24 Feb 2022 15:17:52 +0530 Thu, 24 Feb 2022 15:17:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=25131 Investigation uncovered a coordinated fake invoicing and circular trading scheme operated through 54 bogus firms to generate illegitimate invoices and pass ineligible input tax credit; searches seized documentary and electronic evidence and preliminary enquiry attributes fake invoicing of approximately Rs. 611 crores and alleged tax evasion of over Rs. 38.5 crores. The cartel members have given confessional statements, and the accused are alleged to have committed offences under section 132(1)(b) and section 132(1)(c) of the CGST Act, 2017; three key persons have been arrested and remanded to judicial custody while investigation continues. News - Thu, 24 Feb 2022 15:17:52 +0530 https://www.taxtmi.com/news?id=25131