The Directorate General of GST Intelligence (DGGI) has busted a fake Input Tax Credit (ITC) scam exceeding ₹63 crore and arrested a Delhi-based company director in connection with the case. Bhavesh Sahni, director of Yoke Payment India Pvt Ltd, was taken into custody on April 2 for allegedly issuing invoices for services that were never rendered.
According to officials, the company fraudulently passed on ITC amounting to ₹63.21 crore, while the total value of transactions under scrutiny stood at ₹351.19 crore.
As per GST norms, tax credit can only be claimed on actual supply of goods or services, but the firm allegedly used fake invoices to enable wrongful claims.
Investigations revealed that the company issued bogus bills to multiple firms, helping them reduce their tax liabilities. Simultaneously, it carried out genuine services such as mobile recharges and bill payments but failed to issue proper tax invoices for these transactions.
Sources added that e-top-up transactions worth over ₹728 crore, involving tax exceeding ₹111 crore, were routed through the company, with a significant portion suspected to have been concealed.
A case has been registered under Section 132(1)(b) of the CGST Act, a non-bailable offence that carries a maximum punishment of up to five years’ imprisonment if the blame are proven.