GST officers have busted a network of 46 fake firms which used to generate fake invoices and fraudulently avail input tax credit (ITC) worth Rs 82.23 crore, the finance ministry said on Tuesday. Through the use of extensive data analytics, officers of Delhi East GST were able to identify and unravel a network of 46 fake firms which were operating since 2017 and had passed on fake ITC to multiple of beneficiaries, it said in a statement. The investigation conducted revealed that the fictitious firms were being controlled by Arvind Kumar and his associates. He was arrested on January 17 and is in judicial custody till date, the ministry added.
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GST officers bust network of 46 fake firms used to fraudulently claim Rs 82 crore input tax credit
GST officers have busted a network of 46 fake firms which used to generate fake invoices and fraudulently avail input tax credit (ITC) worth Rs 82.23 crore, the finance ministry said on Tuesday. Through the use of extensive data analytics, officers of Delhi East GST were able to identify and unravel a network of 46 fake firms which were operating since 2017 and had passed on fake ITC to multiple of beneficiaries, it said in a statement. The investigation conducted revealed that the fictitious firms were being controlled by Arvind Kumar and his associates. He was arrested on January 17 and is in judicial custody till date, the ministry added.
Through the use of extensive data analytics, officers of Delhi East GST were able to identify and unravel a network of 46 fake firms which were operating since 2017 and had passed on fake ITC to multiple of beneficiaries