Mumbai: One held for creating fake CGST credit invoices of Rs132 cr

Hasmukh Patel allegedly created a web of fake firms, through which he generated fake invoices of Rs 132 crore and availed/passed on fake ITC of Rs 23.16 crore without supplying any goods and services

|Sep 11, 2022, 11:53:22 IST

New Delhi: The Central Goods and Services Tax (CGST) ‘s Bhiwandi Commisionerate in Mumbai Zone busted a fake invoice racket worth Rs 132 crore and availing/passing on Input Tax credit of Rs 23 crore.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, officials said on Sunday.Patel and was arrested on September 9. He is at present in judicial custody till September 23.According to the reports of CGST, the anti-evasion wing of CGST Bhiwandi Commsissionerate was investigating various fake firms namely 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 wherein various direct and indirect links were established between these firms and Hasmukh Patel.Based on specific intelligence, an anti-evasion wing of CGST Bhiwandi Commissionerate conducted a search operation at the residential premises of the accused who was wanted in eight of the ongoing investigation cases for his alleged role in GST fraud."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," also stated.Based on material evidence gathered during the investigation, the aforesaid accused mastermind was arrested on September 9, 2022 under section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

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