Thane: CGST team busts Rs 132 crore invoice racket, arrests one

THANE: CGST Bhiwandi commissionerate officials have busted a Rs 132-crore fake invoice racket and arrested one person in connection with it. The commissionerate's anti-evasion wing probed six fake firms and established their links to the arrested accused. Based on specific intelligence, the officials conducted a search operation at the residential premises of the accused, who is also the mastermind of the racket, and arrested him.
A probe revealed that the accused allegedly created a web of firms through which fake invoices for Rs132 crore were generated and input tax credit (ITC) of Rs 23 crore availed without any suppy of goods and services. "The accused confessed that he has floated 36 fake firms and established a network across the various GST commissionerates for his operations," an official said. Based on the evidence gathered during the probe, he was arrested.
The official said the action was part of a special drive launched by the CGST, Mumbai zone, against tax fraudsters and fake ITC networks. This is the 17th arrest by CGST Bhiwandi Commissionerate in the last year.