CGST cops nab 4 for fake GST racket

Central GST officers of Kolkata North Commssionarate have recently busted a fake GST racket, where invoices were issued without actual supply of goods. Police arrested four persons inclusive of two chartered accountants and produced in the court of CJM, Alipore. The CGST officers have found that the racket was allegedly involved in issuing fake invoices worth Rs 721 crore and it had consequently caused a loss of Rs 98.7 crore to the government exchequer.

Investigation led by the officers has revealed that the base of the organisation was set up in the Burrabazar area and it kept contacts with some CAs. When some businessmen approached the CAs for fake invoices, they were directed to the middlemen who charged a hefty commission to provide the invoices. The racket also offered common people several financial benefits including interest-free loans in lieu of their KYC details. Afterwards, they used those details to set up fictitious companies in order to issue fake invoices.