CGST Delhi-West busts racket of 9 Export Firms claiming refund of Rs. 89 Cr

CGST Delhi-West has yesterday busted a racket of 9 export firms at Punjabi Bagh, Delhi, claiming a refund of Rs. 89 Crores on the basis of fake invoices worth Rs. 701 Crores, on which tax was never been paid to the Government. They have availed fraudulent Input Tax Credit for seeking IGST Refunds from Custom formations. Investigations have revealed a novel modus operandi, wherein inferior/cheap go…