https://www.taxtmi.com/news?id=25420 Fraudulent availment and passing on of Input Tax Credit (ITC) occurred via a network of fake and non-existent firms: a dry-fruits importer availed IGST credits on imports, issued duty-paid invoices to non-existent entities while selling goods openly, and those entities issued goodsless invoices to pass on ITC. The scheme generated fraudulent ITC flows exceeding Rs 160 crore across at least ten fake firms; enforcement actions include identification of liable persons, recovery steps, and arrest under CGST provisions with ongoing investigation. en-us Thu, 19 May 2022 09:38:47 +0530 Thu, 19 May 2022 09:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=25420 Fraudulent availment and passing on of Input Tax Credit (ITC) occurred via a network of fake and non-existent firms: a dry-fruits importer availed IGST credits on imports, issued duty-paid invoices to non-existent entities while selling goods openly, and those entities issued goodsless invoices to pass on ITC. The scheme generated fraudulent ITC flows exceeding Rs 160 crore across at least ten fake firms; enforcement actions include identification of liable persons, recovery steps, and arrest under CGST provisions with ongoing investigation. News - Thu, 19 May 2022 09:38:47 +0530 https://www.taxtmi.com/news?id=25420