Quick Summary
The Directorate General of GST Intelligence (DGGI), Visakhapatnam Zonal Unit, has uncovered a major fake ITC racket involving fraudulent claims worth Rs 27.07 crore and has arrested the key person behind the network. According to officials, the investigation has so far established that the accused entities fraudulently availed ITC amounting to Rs 27.07 crore, out of which Rs 15.30 crore was illegally passed on to other firms. The racket was allegedly operated through a web of dummy firms create
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FAQ :
The DGGI Vizag has uncovered a major fake Input Tax Credit (ITC) racket involving fraudulent claims worth Rs 27.07 crore.
The total value of fraudulent claims in the fake ITC racket is Rs 27.07 crore, with Rs 15.30 crore being illegally passed on.
Mallikarjuna Manoj Kumar has been identified and arrested as the controller and operator of the fake ITC network.
The racket operated through a web of dummy firms created solely to generate and circulate fake invoices, without any actual supply of goods or services.
The accused has been booked under various provisions of the Central Goods and Services Tax (CGST) Act.
No, this is the fourth arrest made by the DGGI, Visakhapatnam Zonal Unit, in the current financial year.
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