GST officers have busted a network of 23 entities involved in creation of fake invoices worth Rs 551 crore and passing inadmissible input tax credit worth Rs 91 crore.
These 23 firms were floated in order to generate goods-less invoices with an intent to pass on fraudulent ITC without paying actual GST to the government.
Statment from Finance Ministry
“The officers of the anti-evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (West) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through goods less invoices of about Rs 91 crore.”
“Late Dinesh Gupta, Shubham Gupta, Vinod Jain and Yogesh Goel were associated in the said business of generating/selling fake invoices. All the three accused tendered their voluntary statement admitting their guilt.”
Action against them
Shubham Gupta, Vinod Jain and Yogesh Goel knowingly committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable offences as per the provisions of Section 132(5) and are punishable under clause (i) of the sub section (1) of Section 132 of the Act ibid.
Accordingly, they were arrested under Section 132 of the CGST Act on July 10, 2021 and remanded to judicial custody by the duty Metropolitan Magistrate for 14 days.
Name of firms
The firms involved in this network are M/s Girdhar Enterprises, M/s Arun Sales, M/s Akshay Traders, M/s Shree Padmavati Enterprises and 19 others.
These entities are dealing in various commodities and involved in generation of goods-less invoices worth Rs 551 crore and passing inadmissible ITC amounting to approximately Rs 91 crore.
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