Directorate General of GST Intelligence (DGGI) Headquarters booked a case on 3rd March 2020 against M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited < M/s Ganpati Enterprises have issued invoices worth more than Rs 4,198 Crores wherein Tax amount of more than Rs 660 Crores has been fraudulently passed on as ITC credit to buyers of such fake invoices. It is also understood that, in the past, Directorate of Revenue Intelligence have booked a case of diversion of duty-free goods imported under Advance authorisation scheme by M/s Reema Polychem Pvt Ltd.
One of the directors of M/s Reema Polychem Private Limited has been arrested on 04.03.2020 under Section 69(1) of CGST Act, 2017 for offences under the provisions of Sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017. Role of other directors of these three firms is under investigation.
Further investigations are in progress.