Sunday, September 26, 2021

Mumbai Zonal Unit of DG of GST Intelligence busts major ITC refund fraud case

The Mumbai Zonal Unit of Directorate General of GST Intelligence has busted a major ITC refund fraud case and arrested one person.

He was controlling and operating seven companies and fraudulently availed Input Tax Credit (ITC) without any supply of goods and services.

It was done using bogus invoices and claimed Rs. 118 crore as refund against exports.

As per the release, Pune resident Santosh Doshi was arrested on Tuesday and has been remanded to judicial custody.

He is a habitual offender and has also been arrested previously in 2016 by Mumbai Customs.

He had created several dummy units in Jharkhand and West Bengal on the basis of forged documents.

They passed on the said bogus ITC to several shell trading firms acting as intermediary entities situated in Chhattisgarh.

Further, several units were created as exporting fronts at Pune and Mumbai to whom units from Chhattisgarh supplied fictitious goods purported to be exported.

The exporting units were created merely for the purpose of availing refund in a fraudulent manner.

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