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, offic
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now
Already a PRO member? Login here for an ad-free experience.
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.
CAclubindia
