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Reportedly, two persons named Manmohan Agarwal and his son Naman Manmohan Agarwal generated fake invoices without any actual movement of goods in order to claim Input Tax Credit (ITC) fraudulently.
This whole racket involving fake invoices worth Rs 100 crore was busted by the Central Goods & Services Tax (CGST) Department, Vadodara.
The whole fraud was committed by the father-son duo through eight fake firms located in Vadodara, Hyderabad, Bangalore and Mumbai. They received fake invoices from other firms and then passed on the fake ITC through the said eight sham firms.
They even went down to generating e- way bills involving seven trucks which actually never moved and were stationed at one particular location.
The case involved fake invoices worth Rs 100 crore and wrongful availment, utilization and pssing on the ITC of approximately Rs 15 crores.
The son Naman Manmohan Agarwal was arrested under the CGST Act and rules framed thereunder in violation of the prescribed provisions.