The Bhiwandi Commisionerate of Central Goods and Services Tax (CGST) in Mumbai Zone busted a fake invoice racket worth Rs 132 crore and availing/passing on Input Tax credit of Rs 23 crore.
The main accused of the syndicate has been identified as Hasmukh Patel and was arrested on September 9. He is at present in judicial custody till September 23.
According to the reports of CGST, the anti-evasion wing of CGST Bhiwandi Commsissionerate was investigating various fake firms namely M/s Mectech Steel Trading Private Limited M/s UGSK Trader, M/s World Enterprises, M/s Rolex Enterprises and M/s HHT Enterprises and M/s Yesh Enterprises wherein various direct and indirect links were established between these firms and Hasmukh Patel.
Based on specific intelligence, an anti-evasion wing of CGST Bhiwandi Commissionerate conducted a search operation at the residential premises of the accused who was wanted in eight of the ongoing investigation cases for his alleged role in GST fraud.
"A probe revealed that the accused Hasmukh Patel allegedly created a web of these fake firms, through which they generated fake invoices of Rs 132 crore and availed/passed on fake ITC of Rs 23.16 crore without supplying any goods and services," CGST reports stated.
"The accused confessed that he has floated 36 fake GST firms and established a network to pass-on fake Input Tax Credit which is spread across various GST Commissionerate," also stated.
Based on material evidence gathered during the investigation, the aforesaid accused mastermind was arrested on September 9, 2022 under section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
"Trick Won't Work": Mumbai Police To Man Pulling Off "Stunts" Across City Autism Therapy Centre Women Staff Burn Boy, 4, With Incense Stick: Cops Mumbai Auto Drivers Beat Passenger Who Refused To Pay Extra Fare, 1 Arrested Nurse Raped, Killed On Way Home, Body Found 9 Days Later In UP "Took Advantage Of His Addiction": 5 Charged Over Matthew Perry's Death "Don't Expect Anything From Me": Kolkata Hospital's New Principal Loses Cool Ukraine, Russia Both Claim Advances In Kursk Region Gaza Ceasefire Talks Underway In Qatar As Deaths Top 40,000 Trump To Hold Press Conference, His Campaign Adds Senior Advisers Track Latest News Live on NDTV.com and get news updates from India and around the world.