A Mumbai based Exporter arrested for creating bogus companies for issuance of fake invoices

2021-01-13 13:30:11 Exim News

A leading exporter based in Mumbai was arrested and remanded to custody for claiming fake input tax credit and drawbacks from central GST authorities.

Nine companies using fake invoices claimed input tax and drawbacks together to the tune of about 17cr

The exporter Santosh Kumar Singh who is said to have created 44 bogus companies  for issuance of fake invoices and passing on input tax credit to nine export companies which were involved in fradulent exports without supply of goods. The nine companies on the strength of fake invoices claimed input tax credit to the tune of Rs 12.08 crores and drawbacks to the tune of Rs 4.22 crors

Santosh Kumar Singh was arrested and remanded to judicial custody till Jan 25

Santosh Kumar Singh was arrested on Monday (January 11, 2021) and produced before the Magistrates Court on January 12 th wherein he was remanded to judicial custody till January 25th. Further investigation is in progress.

On the basis of inputs received from Maharasthra Police intelligence, further developed by the officers of CGST Mumbai West Anti Evasion team, a case was booked on nine (9) companies run by a 40 year old exporter Shri Santosh Kumar Singh.

He has been operating nine export companies and 44 fake ITC issuing companies with the objective of claiming fraudulent refund of ITC and Drawback. All the companies were created in the name of office boys/ peons who were not even aware of the activities of the companies of which they were made proprietors.

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