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Unearthing of a GST frauds in Delhi

PIB has issued a press release date 26th November,2019 regarding unearthing of a racket involving supply of goods-less invoices & invoice-less goods.

Central GST Delhi North Commissionerate has unearthed a racket involving supply of goods-less invoices and invoice-less goods. One person has been arrested and remanded to judicial custody for 14 days by the Chief Metropolitan Magistrate (CMM), New Delhi at Patiala House Courts. The accused was found to be operating 10 fake firms which were created for rotation of money and fraudulent Input Tax Credit (ITC), thus defrauding the Exchequer. Prima facie fraudulent ITC of about Rs 140 crores has been passed on using invoices involving an amount of Rs 1,040 crores.

Therefore, the accused has committed offences under the provisions of Section 132(1)(a), (b) and (c) of the CGST Act 2017, which are cognizable and non-bailable under Section 132(5) being punishable under Section 132(1)(i) of the said Act.

Please click here for a Press Release. Hope you find the Update useful. For any clarification/information, feel free to write us.

Best regards, e-DiNero. GST Team

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e-DiNero. Group firm was established in INDIA in 2012 and has currently become one of the leading management consultancy firms in North India. The firm operates from its offices situated in Delhi, and offers its clients a full range of services including financial and business advisory, tax and regulatory, and risk advisory services.e-DiNero. Group has a client base of more than 200 companies & individuals. The firm's approach to service delivery helps to provide value-added services to clients. Our differentiation is derived from a rapid performance based, industry-tailored and technology-enabled business advisory services delivered by talented professionals in the country.

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