Hasmukh Patel, the primary suspect in the syndicate, was apprehended on September 9. He is currently being held in jail until September 23.

According to the reports of CGST, the anti-evasion wing of CGST Bhiwandi Commsissionerate was investigating various fake firms namely M/s Mectech Steel Trading Private Limited M/s UGSK Trader, M/s World Enterprises, M/s Rolex Enterprises, and M/s HHT Enterprises and M/s Yesh Enterprises wherein various direct and indirect links were established between these firms and Hasmukh Patel.

Based on specific intelligence, an anti-evasion wing of CGST Bhiwandi Commissionerate conducted a search operation at the residential premises of the accused who was wanted in eight of the ongoing investigation cases for his alleged role in GST fraud.

"A probe revealed that the accused Hasmukh Patel allegedly created a web of these fake firms, through which they generated fake invoices of ₹132 crore and availed/passed on fake ITC of ₹23.16 crore without supplying any goods and services," CGST reports stated.

"The accused confessed that he has floated 36 fake GST firms and established a network to pass-on fake Input Tax Credit which is spread across various GST Commissionerate," also stated.

Based on material evidence gathered during the investigation, the aforesaid accused mastermind was arrested on September 9, 2022, under section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.

Last month 41cr of worth fake tax invoices racket was busted by CGST in which One person was arrested under CGST Act.