Pune: The anti-evasion team of the Central Goods and Services Tax (CGST Pune-2) Commissionerate has uncovered a significant fraud involving fake companies issuing bogus invoices to pass illegal input tax credits.
This operation has revealed a massive ₹20 crore scam. Two key individuals from Pune, identified as the masterminds behind this scheme, have been arrested.
According to the CGST Commissionerate, these fake companies were operated on paper by a specific group, including government contractors who obtained fraudulent input tax credits through fake invoices without any actual supply of goods and services.
The fraud amounted to ₹20 crore in input tax credits, of which ₹3.25 crore has been recovered so far. Initial evidence from the investigation shows that this group, in collusion with government contractors involved in fake invoice transactions, used banking channels to carry out the fraud.
