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TMI Blog2 held by Faridabad CGST Commissionerate for issuing fake invoices of over ₹ 200 crore and availing involving fraudulent ITC of ₹ 31.85 croreX X X X Extracts X X X X X X X X Extracts X X X X ..... 2 held by Faridabad CGST Commissionerate for issuing fake invoices of over ₹ 200 crore and availing involving fraudulent ITC of ₹ 31.85 crore - Goods and Services Tax - GST Dated:- 24-2-2022 - News - Central Goods and Services Tax (CGST) Commissionerate, Faridabad, of Panchkula CGST Zone, on 23.02.2022 arrested two persons for running a fake billing racket, involving five (5) dummy f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irms, dealing in trading of iron scrap, registered in Faridabad, Haryana, for issuance of fake invoices of over ₹ 200 crore without actual supply of goods and availing and passing fraudulent Input Tax Credit (ITC) amounting to ₹ 31.85 crore. A team of officers of Anti-Evasion, CGST Commissionerate, Faridabad, conducted simultaneous searches at 5 places in Faridabad on 22 nd Februar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, 2022. During the investigation, it was found that the said firms have been availing and passing on fraudulent Input Tax Credit based on bogus / fake invoices without actual supply of goods. As per Section 132 of CGST Act 2017 , issuance of an invoice or bill without supply of goods or services and wrongful availment or utilization of Input Tax Credit is a cognizable and non-bailable offen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce if the amount is over ₹ 5 crore. Both the proprietors of the said firms have accepted that they have availed and passed on fraudulent ITC of ₹ 31.85 crore, without actual supply of goods to inter-state recipients and have accepted the total GST liability of ₹ 31.85 crore during initial investigation. The quantum may increase in future. Therefore, both the accused have be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en arrested under Section 69 of Central Goods and Services Tax Act, 2017 for committal of offences under Section 132(1)(b) , 132(1) (c) 132 (5) of the CGST Act, 2017 . They were produced before the CJM Court, Faridabad, on 23.02.2022 and were remanded to 14 days Judicial Custody. Further investigation in the case is underway. - News - Press release - PIB Tax Management India - ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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