https://www.taxtmi.com/news?id=27373 A syndicate fraudulently passed inadmissible Input Tax Credit through a network of fabricated firms managed centrally, revealed by CGST Anti Evasion investigation using analytical tools. Full Fledged Money Changer companies were used to route and park proceeds; beneficiary firms paid forex accounts to justify fake purchases. Multiple bank accounts have been provisionally attached under Section 83 of the CGST Act and several persons arrested as alleged perpetrators; investigation is ongoing to trace recipients and recover proceeds. en-us Fri, 08 Mar 2024 11:07:19 +0530 Fri, 08 Mar 2024 11:07:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27373 A syndicate fraudulently passed inadmissible Input Tax Credit through a network of fabricated firms managed centrally, revealed by CGST Anti Evasion investigation using analytical tools. Full Fledged Money Changer companies were used to route and park proceeds; beneficiary firms paid forex accounts to justify fake purchases. Multiple bank accounts have been provisionally attached under Section 83 of the CGST Act and several persons arrested as alleged perpetrators; investigation is ongoing to trace recipients and recover proceeds. News - Fri, 08 Mar 2024 11:07:19 +0530 https://www.taxtmi.com/news?id=27373