Pune, August 6, 2024: The Anti-Evasion officers of Pune-II, CGST Commissionerate, Pune Zone, have uncovered a significant case involving the issuance of fake invoices by various fraudulent firms. These firms, which existed only on paper, were part of a syndicate involved in availing and passing illicit Input Tax Credit (ITC). The syndicate’s operations included government contractors who received fake ITC through fraudulent invoices without the actual supply of goods and services. The total fraudulently generated and availed ITC amounts to Rs 20 crores, with Rs 3.25 crores recovered so far.
Two Pune residents, identified as the masterminds behind this syndicate, have been arrested. The investigation has revealed that both formal and informal banking channels were used by the syndicate, in collusion with government contractors, to facilitate fake invoice trading.
The CGST department is determined to eradicate the menace of fake invoice trading by all means necessary.