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TMI BlogGST evasion racket busted in Thane; 1 heldX X X X Extracts X X X X X X X X Extracts X X X X ..... GST evasion racket busted in Thane; 1 held X X X X Extracts X X X X X X X X Extracts X X X X ..... ictitious entities which were used to generate fake invoices and claim ITC without any actual supply of goods or services, CGST Joint Commissioner Amit Kumar Singh said in a release issued on Tuesday. Sultan, resident of Mira Road area in Thane, was arrested on Monday, the official said. Investigations suggested that Sultan exploited the Aadhaar, PAN and other KYC documents of various people, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ho were paid in exchange for their personal information. These documents were used to fraudulently register the fake firms for GST, open bank accounts, and create a network of dummy companies that engaged in proxy transactions, the release said. The fraudulent input tax credits were then passed on to other firms, causing significant loss to the exchequer, it said. Sultan, who has admitted to h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is involvement in the fraud, was booked under relevant provisions of the CGST Act, the official said.
Following his arrest, Sultan was produced before a local court which remanded him in 14-day judicial custody.
A probe was underway to identify others involved in the racket, the official added. PTI ZA GK X X X X Extracts X X X X X X X X Extracts X X X X
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