The Directorate-General of GST Intelligence (DGGI) of Bengaluru Zone has arrested four persons, including a chartered accountant, for their alleged and admitted involvement in issuing GST invoices without actually supplying goods, resulting in wrongful utilisation of input tax credit.
A press statement from the DGGI said those arrested were instrumental in issuing invoices worth ₹2,364 crore on which input tax credit of around ₹385 crore was passed on. The arrested persons had created several bogus entities and registered them under the CGST Act, 2017 and then a complex maze of transactions on paper was created using banks, without actually supplying any goods.
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