Officials from the Directorate General of GST Intelligence (DGGI) in Coimbatore have apprehended an individual involved in a massive fake input tax credit (ITC) scam. This person was found to have availed fake ITC amounting to ₹37.2 crore and further passed on ₹65.42 crore of fraudulent ITC.
In an official press release, the DGGI stated that they had carried out searches at the suspect’s residence and business premises on Wednesday after receiving intelligence reports. During these searches, officials seized a substantial amount of evidence, including 17 PAN cards, 20 Aadhaar cards, a weigh bridge printer, 21 bank passbooks, 41 cheque books, 16 firm seals, mobile phones, SIM cards, and debit cards.
The investigation revealed that the individual issued fake invoices through four companies under his control, falsely documenting the supply of bazar scrap to TMT bar manufacturers. These companies then utilized and claimed fake ITC worth ₹32.6 crore. The DGGI confirmed that investigations are ongoing in this case.
This operation underscores the vigilance and thoroughness of the DGGI in combating GST-related fraud and ensuring compliance.