Officers from the Directorate General of GST Intelligence, Visakhapatnam, arrested the director of a company located in Vizianagaram, which is engaged in the manufacture and supply of lead ingots, for allegedly creating fake invoices.
Based on searches conducted in Delhi, Haryana and Visakhapatnam, evidence was gathered that led to unearthing the modus operadi of utilising fake invoices without actual receipt of goods. The fraudulent input tax credit so availed on the basis of fake invoices was being utilised to offset tax liability.
Preliminary quantification revealed that from July 2017 to January 2020, fake invoices worth almost ₹30 crore were utilised involving ineligible input tax credit worth around ₹6 crore.
The accused was arrested on November 3 under the provisions of GST laws and remanded to judicial custody till November 18.
