DGGI Meerut Officials bust a massive syndicate involving 102 fake entities with a staggering turnover of Rs. 1,481 crore, four held

The Directorate General of Goods and Services Tax Intelligence (DGGI), Meerut Zonal Unit, has made a tremendous breakthrough by taking action against a large-scale syndicate of fake invoices that issued invoices with a taxable turnover of Rs. 1,481 crore. This resulted in the fraudulent Input Tax Credit of Rs. 275 crore being passed on to over 1,000 beneficiary companies through 102 fake firms. 

The DGGI Meerut Zonal Unit has successfully demolished a big syndicate commanded by four masterminds through methodical data mining and mental application. One of them, who was employed by a placement consultant, was in charge of getting the PAN, Aadhaar, power bill, proof of address, and other paperwork needed for GST registration. In order to pull this off, the mastermind offered candidates small money incentives in return for turning in their KYC paperwork. The other two masterminds received these KYC documents and exploited them to establish fake firms. These people were also in charge of monitoring cash flow, creating bank accounts, and supervising all financial transactions related to these fraudulent businesses. The fourth mastermind on trial ran a clandestine operation that included vital operational tasks like creating invoices.

Source : PIB