Hyderabad: Anti-Evasion team of Rangareddy Commissionerate registered a case against three directors for floating fictitious firms and faking invoices to claim Rs 32.5 crore GST refund fraudulently.
The accused have been identified as Mukesh Kumar Goel, S Sanjay Joshi and Rahul Aggarwal. Officials said the trio created non-existent firms, issued invoices without supplying goods or services, and fraudulently availed Input Tax Credit.
Officials said they claimed refunds on account of the inverted tax structure. The accused have floated many firms either directly or with the help of their known persons. The firms have claimed Input Tax Credit based on bogus invoices.
Pritam Footwear Corporation, Rajesh Footwear and Yogesh Footwear issued fake GST Invoices and e-way bills and facilitated the passing of ineligible ITC to the tune of Rs.32.5 Crore. The accused fraudulently claimed a refund to the tune of Rs. 19 Crore.
Investigations carried out so far have revealed that the conspiracy is aimed at duping the exchequer by creating a complex web of inter-connected firms engaged in the fraudulent issuance of tax invoices without supply of goods or services.