New Delhi, July 19 -- The Directorate General of GST Intelligence (DGGSTI), an arm of the indirect tax administration, has unearthed a racket involving 90 firms that issued fake invoices to errant companies for tax evasion, an official statement from the agency said on Friday.

DGGSTI said that a resident of Sirsa in Haryana, who was running the racket, has been arrested and that a local court has remanded him to 14-day judicial custody on Friday. The agency's investigation has found the accused has set up 90 fake firms to issue bogus invoices without actually supplying goods. Issuing bogus invoices has been a practice among tax evaders and money launderers for a long time and had been flagged by a Special Investigation Team on black money ...