Fake Inter-state GST invoice racket busted, over Rs.50 cr GST evasion detected; key accused arrested

Chennai, Nov. 25 -- The CGST Chennai North Commissionerate have busted a fake Inter-stateGST invoice racket which revealed GST evasion of over Rs 50 crores and arrested a key accused.

A PIB release here said the officers of the CGST Headquarters Preventive Unit, Chennai, havebusted a major fake Inter-state GST invoicing racket involving fraudulent availment/passing onof Input Tax Credit (ITC) on bogus invoices without any movement of goods.

A key individual operating an unregistered tax consultancy firm, M/s A.S. Associates, in Chennai,has been arrested.

This fake invoice network had floated over 95 bogus business entities across Tamil Nadu andKarnataka by using the ID credentials of individuals.

Preliminary investigation conducted so f...