DGGI arrests director of company in fake invoices scam in Vizag

Directorate General of GST Intelligence (DGGI), Visakhapatnam arrested the director of a Vizianagaram-based company for utilizing fake invoices to offset tax liability.

By Newsmeter Network  Published on  5 Nov 2020 6:19 AM GMT
DGGI arrests director of company in fake invoices scam in Vizag

Visakhapatnam: Directorate General of GST Intelligence (DGGI), Visakhapatnam arrested the director of a Vizianagaram-based company for utilizing fake invoices to offset tax liability.

The company manufactures Lead Ingots.

Searches were conducted in Delhi, Haryana and Visakhapatnam. DGGI collected evidence to unearth the scam of using fake invoices without actual receipt of goods.

The fraudulent input tax credit (ITC) so availed on the basis of fake invoices was being utilized to offset tax liability.

Preliminary quantification revealed that from July 2017 to January 2020, almost Rs 30 crore worth of fake invoices were utilized involving ineligible ITC worth Rs 6 crore.

The accused has been arrested on November 3 under the provisions of GST laws and remanded to judicial custody till November 18.


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