The case was detected and developed by the officers on further data analytics out of a case booked against one of the exporters, M/s Anannya Exim, covered in the all India joint operation, launched by DGGI-DRI (Directorate of Revenue Intelligence) in September 2019, against various exporters for fraudulently claiming IGST refund on the basis of ineligible input tax credit (ITC).
“During the investigations conducted by the DGGI Hqrs, it has emerged that the aforesaid three companies/firms namely M/s. Reema Polychem Pvt. Ltd., M/s. Fortune Graphics Limited and M/s. Ganpati Enterprises have issued invoices worth more than Rs 4,100 crore wherein tax amount of more than Rs 600 crore has been fraudulently passed on as ITC credit to different entities,” the statement said.
In this regard, three persons have been arrested by DGGI for committing offences under GST Act, and remanded for judicial custody by the Magistrate, the statement added.