Officials say 40 bogus firms running from single office to control ‘paper-only’ network; the DGGI, Mumbai Zonal Unit, conducted the raid on November 18, during which officers unearthed a large cache of materials used for fabricating transactions.

The Directorate General of GST Intelligence (DGGI) uncovered a Rs 166.37-crore fake Input Tax Credit (ITC) racket being operated through more than 40 bogus entities being run from one office in Ghatkopar West . Officials said that what appeared to be a regular commercial establishment on the outside was functioning as the nerve centre of a massive paper-only supply chain where goods “existed only on documents”, while tax credits worth crores were allegedly circulated among shell firms.

The DGGI, Mumbai Zonal Unit, conducted the raid on Novembe

See Full Page