Fake TPS racket worth over Rs 4,500 crore arrested in Delhi, 1 detained. Know the details

False racket GST: Officials of the Directorate General of Intelligence GST, or DGGI, have arrested an individual for leading a syndicate and issuing false invoices of Rs 4,521 crore for availing Input Tax Credit (ITC) under goods and services tax. The GST department notified the arrest in a statement a day ago, saying DGGI officials made the arrest in Kolkata, West Bengal, after receiving a complaint in Delhi. He said review of tally data showed that there are 636 businesses operated by this union and the mastermind of the union accepted that they only issued invoices in those businesses and only provided no goods against them.

“Tally’s data review showed that there are 636 businesses operated by this syndicate. The brains of the syndicate acknowledged that they only issued invoices to these businesses and did not supply any goods against them They have issued invoices involving an assessed value of approx Rs.

During the investigation, GST amounting to Rs. 4.52 crores was deposited by reversing the ITC available in the ITC register of these companies. In addition, so far approx. Rs. 7 crore in various bank accounts of these companies have been frozen, the finance ministry said.

The mastermind behind this racket, whose name was not immediately revealed, was arrested on Thursday January 13 by TPS agents, the government said in its press release. He added that further investigation into this matter was ongoing.

The ministry said a case was recently initiated by the DGGI against some bogus companies, which were found to be non-existent at their main place of business. “To track down the real people behind these bogus companies, the physical address from which the GST returns were actually filed was verified,” he said.

“Then a search was carried out on 06.01.2022 at these premises in Delhi. During the investigation, it was discovered that the owner provides ‘Cloud Storage’ services on its servers to various clients for the management of their financial accounts,” the Ministry of Finance added in its press release.

The government revealed that while examining one of the suspect servers, details of certain companies were found in the pointing data. “He has been informed by the owner that this clocking data is held by a Kolkata-based syndicate. The contact details of these individuals were obtained from the owner and then searches were carried out at various premises in Kolkata on 10.01.2022 (January 10, Monday),” the press release said.

During the search, a large amount of incriminating documents, including mobile phones, various checkbooks, stamps from various companies and SIM cards, were recovered, according to the statement. During the analysis of electronic devices, documents, mobile phones and emails of these people, it was found that these people remotely maintained data on the server found in the Delhi premises, he said. he adds.

Every business that falls under Goods and Services Tax (GST) must issue an invoice containing a valid GSTIN, which shows the breakdown of the integrated GST collected by the business. However, to evade taxes, some dishonest businessmen issue false GST invoices, which can be identified by various means. The GST department regularly tracked and caught these companies with the aim of promoting transparency.

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