Saifi is also responsible for setting up four other non-existent bogus businesses (representation)
A man has been arrested for setting up and operating fictitious businesses on forged documents and spending a fake input tax credit (ITC) of Rs 190 crore, the GST Intelligence Directorate (DGGI) said on Friday .
DGGI’s Gurugram Zonal Unit said that the defendant Mohammad Shamshad Saifi had established two companies under the name of M / s Techno Electrical and M / s Lata Sales in New Delhi on the basis of false and false documents in the name non-existent. people at addresses that don’t even belong to companies. “M / s Techno forwarded a fraudulent ITC of Rs 98.09 crore to M / s Lata, which further generated a fake ITC of Rs 69.59 crore to various non-existent companies,” DGGI said in a statement on Friday. press note.
Saifi is also responsible for setting up four other non-existent bogus companies, namely M / s Galaxy Enterprises, M / s Moon, M / s Sidharth Enterprises and M / s Sun Enterprises based in New Delhi, according to her. “It has been established that all of the aforementioned companies provided only invoices without the actual supply of goods.”
The DGGI added that the investigation was spanning several locations in Delhi and based on documentary evidence and recorded statements, it was established that Saifi is a key person in orchestrating this racketeering.
Saifi was produced in front of CJM Extra, Gurugram, who sent him into custody.
Further investigation into the matter is underway.
