Visakhapatnam: Directorate General of GST Intelligence (DGGI), Visakhapatnam zonal unit, has arrested the mastermind in the invoicing scam involving a staggering ₹293 crore.
The accused, a 30-year-old resident of Poddatur in YSR Kadapa district, operated along with three accomplices. He organised a network of 19 fake entities across Kadapa, Kurnool, Bengaluru and Hyderabad.
The fake entities, strategically placed in various cities and across different states, had been designed to obfuscate transactions.
The group executed a complex scheme, generating fake invoices and passing on fraudulent input tax credit (ITC) amounting to approximately ₹30 crore to several operational companies.
This manipulation allowed these companies to illegitimately utilise the funds while evading tax payments, causing a substantial loss to the government exchequer.
The accused has been apprehended under Section 69 of the CGST Act 2017. The DGGI produced him before the Special Judge Economic Offences Court in Visakhapatnam, who remanded him to judicial custody for 10 days.
