​The officers of Investigation Wing of CGST Palghar Commissionerate, Mumbai Zone have busted a fake invoice racket that involved availment and passing of ineligible ITC to the tune of Rs. 11.61 Cr & Shri Nilesh B. Shah, Director of Hacnup Trading (OPC) Private Limited has been arrested on 08.02.2024.

​An investigation was initiated against Hacnup Trading (OPC) Private Limited based on the intelligence developed. During the course of investigation, the firm was found to be non-existing. The statement of Shri Nilesh B. Shah was recorded and in his statement, he admitted that he was involved in the creation of Hacnup Trading (OPC) Private Limited and multiple other fake firms that are involved in the availment and passing of ineligible ITC on the instructions of Shri Kiran Kantharia.

​Hacnup Trading (OPC) Private Limited has passed on ineligible ITC amounting to Rs. 3.90 Cr and availed ITC amounting to Rs. 7.71 Cr on the strength of fake invoices without supply of goods and / or services.

​Based on material evidences gathered during the investigation, Shri Nilesh B. Shah was arrested on 08.02.2024 under the provisions of section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.

Source: CGST & Central Excise, Palghar Commissionerate

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NJ/PK