GUWAHATI: The Directorate General of GST Intelligence (DGGI), Guwahati, has exposed a massive fake invoicing racket involving fraudulent transactions worth Rs. 50 crore, and the arrest of one Dharmendra Agarwal, who allegedly used fake invoices to illegally claim Input Tax Credit (ITC) worth Rs. 9 crore.
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Talking to GPlus, a source in DGGI said, "The racket involved over a dozen dubious firms that issued fake bills. These invoices were reportedly used by Agarwal, the authorized signatory of M/s Infrawo Enterprises based in Dimapur, Nagaland, to claim the fraudulent ITC."
Following his arrest, Agarwal was produced before the Judicial Magistrate, who has sent him to judicial custody for 14 days. His bail plea was also rejected by the court, acknowledging the seriousness of the offence.
Further arrests are expected as the agency intensifies its crackdown on tax evasion through fake invoicing.
