GST officers busted a syndicate involved in setting up bogus businesses and bogus invoices, which led to GST evasion of Rs 362 crore, the Ministry of Finance said on Thursday.
The Directorate of Goods and Services Tax Intelligence, Ghaziabad Regional Unit has dismantled a syndicate involved in the establishment and control of bogus companies and the issuing of invoices by these bogus companies without providing goods or services and collecting the GST refund, the department said.
Two offices were searched, where various incriminating documents related to more than 200 fake companies were recovered, namely mobile phones, digital signatures, debit cards, PAN cards, Aadhaar cards, photos of people, rental contracts, laptops, thumb drives, rubber stamps, keys. desks, SIM cards, checkbooks and some kuccha registers.
“After an analysis of evidence and data, it has been revealed that this network consists of 275 fake companies that only exist on paper. These companies have issued fake invoices worth a total of Rs 3,189 crore involving a total GST evasion of Rs 362 crore,” he added.
The real masterminds of the network i.e. Vipin Kumar Gupta aka Nikku and Yogesh Mittal have been captured and arrested by DGGI agents.
It has been learned that Vipin Kumar Gupta and Yogesh Mittal are repeat offenders. The two offenders were arrested earlier by the Directorate of Tax Intelligence (DRI) and the Directorate of Law Enforcement (ED), the ministry said.
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