Pune: 2 Arrested For Running Fake Invoice And ITC Trading Racket

Officers of the Anti-Evasion Unit, Pune-II, CGST Commissionerate, Pune Zone, acting on intelligence, have booked a case involving the issuance of fake invoices by various bogus firms that were fraudulently availing and passing illicit Input Tax Credit (ITC).

These firms which existed only on paper were operated by a syndicate, which also included government contractors who received fake ITC through fraudulent invoices without actual supply of goods and services.

The total ITC fraudulently generated and availed in this case amounts to ₹20 crores, with ₹3.25 crores recovered so far.

Two Pune residents, who are the masterminds of this syndicate, have been arrested.

Investigations have revealed that both formal and informal banking channels were used by the syndicate in collusion with government contractors involved in fake invoice trading.

The department is committed to eradicating the fake invoice trading menace by all means.