ISLAMABAD: In an effort to curb the menace of fake and flying invoices, Directorate of Inland Revenue Intelligence & Investigation, Islamabad arrested two persons under section 37A of Sales Tax Act 1990.
According to details, it was reported by reliable sources that an office has been set up in a residential complex located in Sector F-10 of Islamabad, involved in fake invoices making supplies of coal to cement factories.
The Directorate raided the office/flat and registered an FIR against a tax fraudster for his involvement in commissioning of tax fraud and causing loss of revenue to the tune of ninety five million rupees to the National Exchequer by claiming/adjusting inadmissible input tax on the basis of fake invoices.
During the raid the Principal Officer of the company could not be apprehended as he was not present in the office. In search of whom raids are being conducted and will be arrested accordingly.
The accused were presented before the Special Court, Rawalpindi on 27-09-2023 for securing physical remand which has been granted by the Honorable Court for 07 days for further investigation.
It is expected that details of other culprits involved in fake and flying invoices could be revealed during investigation.
Copyright Business Recorder, 2023
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