GST fraud: Bengaluru man colluded with Chinese bizmen, created fake invoicesBENGALURU: Four men who committed tax fraud in separate cases amounting to over Rs 200 crore have been arrested over the past few weeks. They allegedly raised fake invoices for multinational companies, including Chinese ones, for bogus services worth Rs 1,000 crore in a few years.This is one of the biggest goods and services tax (GST) frauds busted in the city in recent times by the Bengaluru zonal unit of the Directorate General of GST Intelligence. The sleuths raided many places, including Chinese firms based in Mumbai, and seized documents related to fake Input Tax Credit (ITC). He interacted with them frequently via WeChat messaging service and even made cryptocurrency purchases for large sums for Chinese persons,” the intelligence officer said.Sleuths recently raided a few Chinese firms in Mumbai and seized crucial documents. A repeat tax offender Mohammed’s non-existing supplier links for tax evasion was established, sources added.

Source: Economic Times November 14, 2020 23:59 UTC