https://www.taxtmi.com/news?id=26615 Investigation uncovered large-scale Input Tax Credit (ITC) fraud using forged identity documents, fake GST registrations and sham invoices to create and circulate fraudulent ITC, with credits channelled into high-risk sectors. Enforcement prevented utilisation of substantial fraudulent ITC and effected recoveries; arrests of key operatives were made. A described modus operandi in the mobile-phone trade shows goods acquired without legitimate invoices are routed through networks of sham firms to generate false ITC and evade GST liabilities. en-us Fri, 23 Jun 2023 09:21:11 +0530 Fri, 23 Jun 2023 09:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26615 Investigation uncovered large-scale Input Tax Credit (ITC) fraud using forged identity documents, fake GST registrations and sham invoices to create and circulate fraudulent ITC, with credits channelled into high-risk sectors. Enforcement prevented utilisation of substantial fraudulent ITC and effected recoveries; arrests of key operatives were made. A described modus operandi in the mobile-phone trade shows goods acquired without legitimate invoices are routed through networks of sham firms to generate false ITC and evade GST liabilities. News - Fri, 23 Jun 2023 09:21:11 +0530 https://www.taxtmi.com/news?id=26615