Quick Summary
Officers of the Directorate General of GST Intelligence (DGGI), Visakhapatnam Zonal Unit, have arrested a GST consultant in Vijayawada for his involvement in a large-scale fake invoice racket amounting to Rs 42.73 crore. The fraudulent activity resulted in a massive GST evasion of Rs 6.51 crore. According to officials, the accused misused the GST portal credentials entrusted to him by his clients for filing returns. Instead of genuine transactions, he generated fake invoices in their names with
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FAQ :
A GST consultant was arrested for involvement in a large-scale fake invoice racket amounting to Rs 42.73 crore, resulting in GST evasion.
The fraudulent activity resulted in a GST evasion of Rs 6.51 crore.
The consultant misused client GST portal credentials to generate fake invoices without actual goods supply, manipulated returns, and fraudulently passed on Input Tax Credit.
The consultant was arrested under Section 69 of the CGST Act, 2017, and remanded to 14 days judicial custody by the Special Judge for Economic Offences Court.
Yes, authorities are continuing the investigation to identify other potential beneficiaries of the fraudulent Input Tax Credit transactions.
Businesses are advised to remain vigilant when engaging third-party consultants for tax compliance.
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