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TMI BlogDGGI HQ books case against 3 firms for issuance of fake invoices without actual supply of goods worth ₹ 4,198 croresX X X X Extracts X X X X X X X X Extracts X X X X ..... DGGI HQ books case against 3 firms for issuance of fake invoices without actual supply of goods worth ₹ 4,198 crores - Goods and Services Tax - GST Dated:- 4-3-2020 - News - Directorate General of GST Intelligence (DGGI) Headquarters booked a case on 3 rd March 2020 against M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited M/s Ganpati Enterprises. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The aforesaid companies/ firms are involved in issuance of invoices without any actual supply of goods. This case was detected and developed by officers on further data analytics out of a case booked against one of the exporters, namely, M/s Anannya Exim, which was covered in the all India operation launched by DGGI-DRI on 11.09.2019, against various exporters for fraudulently claimed IGST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refund on the strength of ineligible ITC. During investigation, it was revealed that M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited M/s Ganpati Enterprises have issued invoices worth more than ₹ 4,198 Crores wherein Tax amount of more than ₹ 660 Crores has been fraudulently passed on as ITC credit to buyers of such fake invoices. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is also understood that, in the past, Directorate of Revenue Intelligence have booked a case of diversion of duty-free goods imported under Advance authorisation scheme by M/s Reema Polychem Pvt Ltd. One of the directors of M/s Reema Polychem Private Limited has been arrested on 04.03.2020 under Section 69(1) of CGST Act, 2017 for offences under the provisions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017. Role of other directors of these three firms is under investigation. Further investigations are in progress. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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