The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Md. Shamshad Saifi resident of New Delhi on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit by way of issuance of without any actual receipt or supply of goods or services.
It is apparent from the investigation conducted to date, that Md. Saifi created two companies by the name of M/s Techno Electrical and M/s Lata Sales based in New Delhi on basis of bogus and forged documents in the name of non-existent persons at addresses not even pertaining to firms. M/s Techno passed on fraudulent ITC of Rs. 98.09 crore to M/s Lata, which further generated fake ITC of Rs. 69.59 crore to various non-existent firms.
Md. Shamshad Saifi is also responsible for creating four more fake non-existent firms namely M/s Galaxy Enterprises, M/s Moon M/s Sidharth Enterprises & M/s Sun Enterprises based at New Delhi It was ascertained that all the above-mentioned firms have only supplied without actual supply of goods.
The investigation spanned multiple locations in Delhi and based on documentary evidence and statement recorded, it was ascertained that Md. Saifi is a key person in orchestrating this racket of making fake firms on forged documents. Accordingly, Md. Saifi was arrested today and produced before Addl. CJM, Gurugram, who ordered judicial custody. A total fake ITC of more than Rs. 190 crore has been thus passed by the accused.
Further investigations in the matter are under progress.