Exporters used fake invoices worth Rs 3,500 to claim ITC
Using fake invoices, the exporters are estimated to have claimed input tax credit (ITC) of more than Rs 470 crore which was further utilised.
The case involves a large number of exporters sending out goods on payment of integrated GST (IGST) almost entirely out of the ITC availed on the basis of fake invoices. Representational Image, source: Pixabay