CHENNAI: CGST Chennai North Commissionerate have arrested two persons involved in this large-scale GST (Goods and Services Tax) evasion racket in which a firm had fraudulently passed on Input Tax Credit (ITC) worth approximately Rs 10.64 crore on bogus invoices valued at about Rs 59 crore.

One of the arrested individuals is the proprietor of the firm engaged in availing and passing on fake ITC, while the other is his associate, who was actively involved in the issuance of fake GST invoices.

Investigations by the anti-evasion wing of the CGST Chennai North Commissionerate revealed that the firm had fraudulently availed ITC of Rs 10.38 crore and passed on ITC of Rs 10.64 crore without any actual supply or receipt of goods. The fraudulent transactions were carried out through bogus invoice

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