Pune: 2 arrested for issuing fake GST invoices of around Rs 700 crore

Two people have been arrested by the Headquarter Preventive Wing of the Central GST Commissionerate here for allegedly issuing fake Goods and Services Tax (GST) invoices of approximately Rs 700 crore.According to the statement issued by VN Mangaraju, Joint Commissioner, Pune CGST II Commissionerate, the accused Amit Ashok Thepde and Vilas M Atal were arrested on Thursday under Section 69 (1) of CGST ACT, 2017.CGST officials acted upon intelligence and busted the modus operandi of issuing fake GST invoices without receiving or supplying any goods."Two firms -- Reliable Multitrading and Himalaya Tradelinks -- obtained GST registration and have together issued fake GST invoices of approximately Rs 700 crore with GST of Rs 54 crore to facilitate bogus Input Tax Credit (ITC) claims and duped the government exchequer," said Mangaraju in the statement.Both the accused are partners in these firms and have committed offences under the provision of Sections 123(1)(b) and (c) of GST Act, 2017, ..