Bhuj: A team of the preventive wing of central goods and services tax (CGST) commissionerate of Kutch district in Gandhidham have busted a racket involved in issuance of bogus/fake invoices with an objective to pass on and utilize ineligible Input Tax Credit fraudulently and evade payment of GST and its mastermind Gurukamal Singh was arrested and sent to jail today.

An officer of the comissionerate said that Gurukamal had issued such invoices worth around Rs 531 crores to pass on fraudulent Input Tax Credit amounting to Rs 97.69 crores.

’38 year old Gurukamal had registered one firm M/s Preet Enterprise on his name and had taken registration of 17 other fake firms in the GST regime in the names of other Individuals. All these 18 firms were registered on non-existence/closed business premises. He had paid some money to the 17 people for using their names and he was single handed operating the bank accounts of all the 18 firms. He used to issue fake invoices without actual supply of goods,’ he said.

After detailed investigation he was arrested today and produced in the court of Chief Judicial Magistrate Court here which sent him to judicial custody ie jail till February 5.

Further investigation was on.