Saifi can also be answerable for creating 4 extra faux non-existent corporations (Representational)
A person has been arrested on prices of making and working fictitious corporations on solid paperwork and passing faux enter tax credit score (ITC) of Rs 190 crore, the Directorate Common of GST Intelligence (DGGI) mentioned on Friday.
The Gurugram Zonal Unit of the DGGI mentioned that the accused Mohammad Shamshad Saifi created two corporations by the title of M/s Techno Electrical and M/s Lata Gross sales in New Delhi on the premise of bogus and solid paperwork within the names of non-existent individuals at addresses not even pertaining to the corporations. “The M/s Techno handed on fraudulent ITC of Rs 98.09 crore to M/s Lata, which additional generated faux ITC of Rs 69.59 crore to numerous non-existent corporations,” the DGGI mentioned in a press notice on Friday.
Saifi can also be answerable for creating 4 extra faux non-existent corporations particularly M/s Galaxy Enterprises, M/s Moon, M/s Sidharth Enterprises and M/s Solar Enterprises primarily based in New Delhi, it alleged. “It was ascertained that every one the above-mentioned corporations have solely provided invoices with out the precise provide of products.”
The DGGI added that the investigation spanned a number of places in Delhi and primarily based on documentary proof and assertion recorded, it was ascertained that Saifi is a key individual in orchestrating this racket.
Saifi was produced earlier than Extra CJM, Gurugram, who despatched him to judicial custody.
Additional investigation within the matter is beneath progress.
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