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Three men have been arrested for generating fake bills worth Rs 1,200 crore under the new Goods and Services Tax (GST) regime.(REUTERS)

Bengaluru I-T dept busts Rs 1,200 crore fake GST invoice scam

By Vikram Gopal | Hindustan Times, Bengaluru
PUBLISHED ON NOV 15, 2018 12:26 PM IST
According to the I-T department, the three men had obtained GST registrations for non-existent companies that were trading iron and steel scrap and had circulated the fake invoices on the payment of a commission to some iron and steel manufacturers, who availed input tax credit based on this.
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