NEW DELHI: The Directorate General of GST Intelligence (DGGI), Pune Zonal Unit, has uncovered a massive GST fraud amounting to Rs 1,196 crore. One person has also been arrested in connection with the case.The investigation, which involved searches at multiple locations in Pune, Delhi, Noida, and Muzaffarnagar, revealed a sophisticated network of bogus companies engaged in fraudulent Input Tax Credit (ITC) transactions.The accused had set up shell entities with no legitimate business operations, generating fake invoices and e-way bills to create a facade of genuine trade. However, these e-way bills had no RFID movements associated with them, confirming the absence of the actual supply of goods.The fraudulent network facilitated the availing and passing of fake ITC worth Rs 1,196 crore, a statement from the finance ministry issued on Wednesday said.
Source link
