The Directorate General of GST Intelligence (DGGI), Guwahati Zonal Unit, has uncovered a fake invoicing racket in Assam worth Rs 100 crore.
The operation resulted in the arrest of two brothers, Aniket Sovasaria and Pritam Sovasaria, both professional tax accountants. Authorities allege that the duo managed over 20 sham firms from Guwahati to fraudulently claim and pass on fake Input Tax Credit (ITC).
Reports indicate that the Sovasaria brothers claimed a fake ITC of Rs 14 crore and passed on a fraudulent ITC of Rs 15 crore, causing a significant loss to government revenue. They reportedly issued invoices without supplying any actual goods or services, enabling others to illegitimately benefit from tax credits.
The DGGI is actively tracing the network involved and working to recover the lost revenue. Both brothers have been remanded to judicial custody while the investigation continues.
