DGGI busts fake invoice network, fraudulent transactions of Rs 3000 Cr involving 15 non-existent entities operating in Nashik – Palghar – Thane sector detected

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DGGI busts racket of fraudulent Refunds of Input Tax Credit

Nagpur, March 26

As a part of the ongoing drive against fake invoices, multiple searches were conducted in the last 3-4 days by the officers of DGGI, Nagpur Zonal Unit across Maharashtra to target 15 entities operating in Nashik – Palghar – Thane sector. The targeted searches revealed that these 15 entities were non-existent at the declared addresses and had uploaded forged/fake documents as proofs of businesses.

The analysis of documents revealed that these 15 fake entities had engaged in fictitious transactions of over Rs. 3000 Crore on the inward as well as outward legs. Further, these 15 entities had themselves availed fraudulent Input Tax Credit of Rs 282.34 Crores and had passed on this fraudulent ITC to other entities. In these fictitious transactions, these 15 entities had deceptively shown goods like Organic Chemicals, Paints/Varnishes, Boards/Panels, Lab Chemicals and Sulphuric Acid.

During the searches at a number of hideouts, 6 persons, who were either Proprietors or Partners of these fictitious entities have been traced and apprehended so far in the last 3-4 days. All these persons have confessed to their crimes during sustained interrogation. In view of the grave Cognizable/Non Bailable offences committed by these persons, all 6 persons were arrested on the basis of Arrest Authorizations issued by the Additional Director General, DGGI, Nagpur Zonal Unit. The Hon’ble Courts, after taking into consideration the severity of the offences, have remanded all 6 persons to Judicial Custody for 14 days.

Further investigations are underway.

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