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Delhi businessman held for Rs 5 crore GST fraud
The probe has revealed that the firms linked with the accused passed on such fraudulently taken ITC to some of the well-established businessmen, who availed of it to discharge their GST liability against the outward supply, with an ulterior motive to defraud the public exchequer.
The Directorate General of GST Intelligence (DGGI) has arrested the proprietor of the Delhi-based Shree Balaji Enterprises for fraudulently taking input tax credit(ITC) of over Rs 5 crore through fake invoices, an official statement read.
DGGI’s Gurugram zonal unit arrested Ajit Jindal, the proprietor of the company, as it had fraudulently taken ITC from total invoice value of Rs 28.11 crore on the basis of invoices issued by “fake” firms, the statement issued by the finance ministry on Tuesday stated.
Geeta Chikkara, deputy director DGGI, Gurugram, said, “He[Jindal] was summoned and had visited the office on July 12. After questioning, he was arrested from the office and was produced before the district and sessions court and taken on remand. On Tuesday, he was sent to 14 days’ judicial custody.”
The probe has revealed that the firms linked with the accused passed on such fraudulently taken ITC to some of the well-established businessmen, who availed of it to discharge their GST liability against the outward supply, with an ulterior motive to defraud the public exchequer.
“Jindal, during the questioning, admitted that his firm had taken ITC fraudulently on the invoices issued by non-existent fake firms and then passed on such ITC to the various spinners, said Chikkara.
The officials said Jindal had committed offences under the provisions of sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017, all of which that are cognizable and non-bailable under Section 132(5) of the CGST Act, 2017. The offence is punishable under Section 132(1)(i) of the CGST Act, 2017.
The officials said further investigations in the matter are in progress and more people involved in the case will be arrested soon.
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