The Directorate General of GST Intelligence (DGGI) and the Directorate General of Revenue Intelligence (DRI) have booked a case against three firms who were found involved in the issuance of fake invoices.
The three firms, Fortune Graphics Limited, Reema Polychem and Ganpati Enterprises were found involved in issuance of invoices worth more than Rs 4,100 crore without any actual supply of goods wherein tax amount of more than Rs 600 crore has been fraudulently passed on as ITC credit to different entities.
"The case was detected and developed by the officers on further data analytics out of a case booked against one of the exporters, M/s Anannya Exim, covered in the all India joint operation launched by DGGI-DRI in September 2019, against various exporters for fraudulently claiming IGST refund on the strength of ineligible ITC," the Ministry of Finance said.
Three persons have been arrested for committing offenses under GST Act. Two of them are directors/proprietor of Fortune Graphics Limited, Reema Polychem and Ganpati Enterprises.
The third person is the director of AB Players Exports and controller of various other export firms/companies who has claimed IGST refunds on the strength of fake invoices issued by these firms.
All the three persons have been arrested by DGGI for committing offences under the provisions of Sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017 and remanded for judicial custody by the Magistrate, the releases said.
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