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Directorate General of GST Intelligence (DGGI) has booked three firms for issuing invoices worth more than ₹4,100 crore, wherein a tax of more than ₹600 crore has been fraudulently passed on as ITC credit to different entities.
According to a Finance Ministry statement, the three firms — Reema Polychem Pvt Ltd, Fortune Graphics Ltd and Ganpati Enterprises — were found to be involved in issuance of invoices without any actual supply of goods. The case was detected and developed by the officers on further data analytics out of a case booked against one of the exporters, Anannya Exim, covered in the all India joint operation launched by DGGI-DRI (Directorate of Revenue Intelligence) in September 2019, against various exporters for fraudulently claiming IGST refund on the strength of ineligible ITC.
In this regard, three persons have been arrested for committing offences under GST Act. Two of them, who were on the run and were continuously avoiding presence in the DGGI headquarters, are directors/proprietor of Fortune Graphics Ltd, Reema Polychem Pvt Ltd and Ganpati Enterprises. The third person is the director of AB Players Exports Pvt Ltd and controller of various other export firms/companies who has claimed IGST refunds on the strength of fake invoices issued by these firms.
All three remanded for judicial custody by the Magistrate. Further investigations in the matter are in progress.
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