🚫GST officers bust Rs. 557 crore fake billing racket, arrest 3 ✳️The Directorate General of GST Intelligence (DGGI) has busted two fake billing rackets involving 246 shell/fake entities. #GST #fakebillingracket #ITC #DGGI #taxevasion

✳️The rackets were used to fraudulently pass on input tax credit (ITC) of Rs. 557 crore. Three key operatives have been arrested. ✳️Forensic examination of the seized laptops and mobile phones of the two masterminds led to the retrieval of ledgers, invoices, e-way bills, etc

✳️WhatsApp chats/ voice messages evidencing the transactions of fake GST bills and illegal cash flow have also been retrieved. 🔍The fake billing rackets are a serious threat to the GST system in India. They allow unscrupulous businesses to evade taxes and distort the market.

🔍The DGGI's crackdown on these rackets is a welcome development, and the government must continue to take action to prevent them from happening.