Quick Summary
CGST officials bust racket for generating fraudulent input tax credit through fake billing of around Rs 1,278 crore Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST),Commissionerate, Delhi (East) have busted a major racket for generation of huge inadmissible input tax credit (ITC) through fake billing of Rs 1,278 crore (approx). The well established syndicate was being operated by floating seven different fake firms with the inte
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FAQ :
The racket generated fraudulent input tax credit amounting to approximately Rs 1,278 crore.
The fraudulent input tax credit was generated through fake billing and the creation of bogus invoices without the actual movement of goods.
The alleged mastermind of the racket is Shri Ashish Aggarwal, who has been arrested.
The fake billing operation was primarily engaged in generating and passing fake ITC to the milk products industry, with bogus invoices raised for items like Ghee and milk powder.
Yes, inadmissible input tax credit of more than Rs 7 crore has been recovered so far.
Shri Ashish Aggarwal has been arrested under Section 132 of the CGST Act and remanded to judicial custody.
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