CGST Chennai North Commissionerate has uncovered a significant fake GST invoice racket involving over Rs 59 crore in bogus invoices, leading to fraudulent Input Tax Credit (ITC) claims totalling Rs 10.64 crore. The operation, run by M/s MKN Enterprises, saw the proprietor and an associate arrested for their involvement in passing on fake ITC without any genuine supply of goods or services. This bust is part of a wider crackdown on tax evasion across the country.
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
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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.