Officials of Directorate General of GST Intelligence Officials has busted a network involving fake invoices. The syndicate issued invoices involving taxable value of around 4 thousand 521 crore rupees having tax implication of 741 crore rupees. One person has been arrested.
Officials conducted searches at various location including Delhi and Kolkata. During search, it was found that proprietor is engaged in providing services of cloud storage on his servers to various customers for maintaining their financial accounts. Huge amount of incriminating documents including mobiles phones, various cheque books, stamps of various firms and SIM cards have been recovered. Scrutiny of data has shown that there are 636 firms being operated by this syndicate. The mastermind of syndicate has accepted that they issued only invoices in these firms and not supplied any goods against them.
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