Quick Summary
In a major crackdown on tax evasion, officers of theCGST Chennai North Commissionerate have unearthed a fake GST invoice racket involving fraudulent Input Tax Credit (ITC) worth Rs 10.64 crore on bogus invoices valued at around Rs 59 crore. The racket was being operated by M/s MKN Enterprises, officials confirmed. Two key individuals - the proprietor of M/s MKN Enterprises and his associate - have been arrested for their alleged roles in availing and passing on fake ITC without any actual suppl
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FAQ :
CGST Chennai has uncovered a fake GST invoice racket involving fraudulent Input Tax Credit (ITC) worth Rs 10.64 crore, based on bogus invoices valued at approximately Rs 59 crore.
The racket was operated by M/s MKN Enterprises.
Yes, the proprietor of M/s MKN Enterprises and an associate have been arrested.
The fake invoices were valued at around Rs 59 crore.
The fraudulent Input Tax Credit (ITC) involved amounted to Rs 10.64 crore.
The accused have been arrested under Section 132 of the CGST Act, 2017, and remanded to judicial custody for 14 days.
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