Fake Invoice Racket Worth Rs 132 Crore Busted In Mumbai, 1 Arrested


The accused is at current in judicial custody until September 23.


The Bhiwandi Commisionerate of Central Goods and Services Tax (CGST) in Mumbai Zone busted a pretend bill racket value Rs 132 crore and availing/passing on Input Tax credit score of Rs 23 crore.

The fundamental accused of the syndicate has been recognized as Hasmukh Patel and was arrested on September 9. He is at current in judicial custody until September 23.

According to the studies of CGST, the anti-evasion wing of CGST Bhiwandi Commsissionerate was investigating varied pretend companies particularly 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 whereby varied direct and oblique hyperlinks had been established between these companies and Hasmukh Patel.

Based on particular intelligence, an anti-evasion wing of CGST Bhiwandi Commissionerate performed a search operation on the residential premises of the accused who was needed in eight of the continuing investigation instances for his alleged position 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 studies acknowledged.

“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,” additionally acknowledged.

Based on materials proof gathered in the course of the investigation, the aforesaid accused mastermind was arrested on September 9, 2022 below part 69 of the CGST Act, 2017 for contravention of part 132 of the CGST Act, 2017.

(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)

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