Central GST Delhi North Commissionerate has busted a racket of issuance of fake invoices without actual supply of goods and services.
Two individuals – Asrar Akhtar and Vikas Singh —have been arrested in this matter and remanded to judicial custody for 14 days by the Chief Metropolitan Magistrate (CMM), New Delhi at Patiala House Courts, an official release said.
The accused and their associates were found to be operating 19 fake firms created to facilitate fraudulent Input Tax Credit (ITC), thus defrauding the Exchequer.
Prima facie fraudulent ITC of about ₹25 crore has been detected to have been passed on using invoices involving an amount of ₹137 crore.
The modus operandi of these individuals and their associates Sabban Ahmed and Arif, inter alia, involved issuance of fake invoices of firms registered across Delhi NCR from a premise in Azadpur, Delhi.
Voluminous incriminating documents such as fake invoices, diaries, letter-heads, rubber stamps of fake firms, cheque books, transporter’s consignment notes and electronic devices have been recovered. Investigations are underway to identify other individuals and firms involved in this racket, the release added.
Asrar Akhtar and Vikas Singh were arrested on August 1 and have been remanded to judicial custody for 14 days.