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HomeIndiaMumbai: Fake invoice racket worth Rs 132 crores busted; one arrested

Mumbai: Fake invoice racket worth Rs 132 crores busted; one arrested

A fake invoice racket worth Rs 132 crore was busted by the Bhiwandi Commisionerate of Central Goods and Services Tax (CGST) in Mumbai Zone.  

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Mumbai: A fake invoice racket worth Rs 132 crore was busted by the Bhiwandi Commisionerate of Central Goods and Services Tax (CGST) in Mumbai Zone.

“A probe revealed that the accused Hasmukh Patel allegedly created a web of these fake firms, through which they generated fake invoices of ₹ 132 crore and availed/passed on fake ITC of ₹ 23.16 crore without supplying any goods and services,” CGST reports stated.

The main accused of the syndicate has been identified as Hasmukh 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.

Also Read: Pune: Man who held grudge against father killed son; held

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.

(With inputs from ANI)

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