New Delhi: The CGST department on Wednesday arrested three businessmen who were allegedly running 54 bogus firms in NCR and issued fake invoice of Rs 611 crore. Apart from issuing fake bills they have been accused of indulging in tax evasion of Rs 38.5 crore.
“The CGST department has identified 54 bogus firms of the national capital region which issued fake invoice of Rs 611 crore and indulged in tax evasion of 38.5 crore. The CGST department areested three key persons of the cartel namely identified as Ankit Gupta, the mastermind managing these bogus firms and his aides Rabiendra Singh and Rajendra Singh,” said an official.
The department has found that these firms were engaged in “fake” invoicing and circular trading. In this regard, it conducted searches in Delhi.
According to the information, a specific intelligence was developed by the officers of Delhi South CGST Commissionerate concerning certain bogus firms which were created solely for the purpose of generating fake invoices and passing ineligible input tax credit along the chain.
“Incriminating documents such as rubber stamps and letter heads of various firms, mobile phones, laptops etc. have been seized from the search premises,” said the official.
The preliminary enquiry conducted so far into these transactions have revealed fake invoicing of around Rs 611 crores and tax evasion of over Rs 38.5 crores. The people who are running the cartel in their confessional statements have accepted their roles in managing these bogus firms, the official added.
“The persons behind these bogus firms hatched the conspiracy to defraud the government and committed offences specified under section 132(1)(b) and 132(1)(c) of the CGST Act which are cognizable and non-bailable.”
The accused were remanded to 14 days of judicial custody by the Duty Magistrate. Further investigation into the matter is on.