GST intelligence body widens investigation on fintech firm BharatPe

Audit at BharatPe had suggested deeper investigation on deals with non-existent vendors

The Directorate General of Goods and Services Tax Intelligence (DGGI) has widened its probe on BharatPe after its earlier investigation had found the merchant-focused fintech firm had issued invoices to non-existent vendors, said officials aware of the development.

Last October, BharatPe had accepted that it had issued invoices to non-existent vendors and paid about Rs 11 crore in dues and penalty to the tax department.

An audit conducted by professional services firm Alvarez and Marsal had pointed out the fintech firm’s dealings with fake or non-existent vendors. This was based on DGGI’s finding that procurements were done by the company from non-existent