DGGI books three firms for GST evasion

The three firms booked by the anti-evasion authority are Fortune Graphics Ltd, Reema Polychem Pvt Ltd and Ganpati Enterprises.

A Finance Ministry statement said that the case was detected by officers using data analytics out of a case booked against exporter Anannya Exim. It was covered in the all India operation launched by DGGI-DRI in September last year against various exporters for fraudulently claimed IGST refund on the strength of ineligible ITCs.

“During investigation, it was revealed that M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited & M/s Ganpati Enterprises have issued invoices worth more than Rs 4,198 crore wherein tax amount of more than Rs 660 crore has been fraudulently passed on as ITC (input tax credit) to buyers of such fake invoices,” the official statement said. In the course of investigation, it was also found that the Directorate of Revenue Intelligence (DRI) had booked a case of diversion of duty-free goods imported under advance authorisation scheme by Reema Polychem Pvt Ltd.