Central Goods and Service Tax (CGST) office of Delhi West and North have busted a racket of issuance of invoices without actual supply of goods.
The taxpayer availed fraudulent Input Tax Credit for seeking IGST Refunds from Customs formations.
Investigations revealed a novel modus operandi wherein the taxpayer showed supplies to SEZ for claiming a fraudulent refund from CGST formations.
Four persons have been arrested and remanded to Judicial Custody for 14 days by Delhi's Patiala House Courts.
Prima facie, fraudulent ITC of 195 crores rupees has been passed on using invoices involving an amount of 847 crore rupees.
