Rs 115-crore fake GST invoice racket busted firm owner held

    Nagpur,Feb 13 (PTI)The Nagpur zonal unit of
Directorate General of GST Intelligence (DGGI)has busted a
fake invoice racket of over Rs 115 crore and arrested the
proprietor of city firm on Thursday, an official said.
    On the basis of specific information regarding
issuance of fake invoices and availment offraudulent Input
Tax Credit (ITC), simultaneous searches were conducted by
officers of DGGI at the premises of a number of taxpayers in
Ludhiana and Nagpur on Wednesday, according to a press release
issued by DGGI additional director Pradip Gurumurthy.
    "These searches revealed that taxpayers based at
Ludhiana and Nagpur were non-existent and all the supplies
made by them to M/S Raja Cement House, Satyam Nagar in
Nagpurwere merely on paper under fake invoices without
corresponding supplies of goods," the release said.
    Preliminary investigations have revealed Raja Cement
House had cumulatively received and issued fake invoices
valued at over Rs 115 crore and availed fraudulent ITC of Rs
10.44 crore on these fake invoices, it said.
    "On sustained interrogation,proprietor of Raja Cement
House Raja, Ashok Agrawal, admitted the fact of receiving and
issuing fake invoices and availing fraudulent input tax credit
on these fake invoices," the release said.
    He was arrested on Thursday, it added. PTI CLS
RSY RSY

(This story has not been edited by THE WEEK and is auto-generated from PTI)