Delhi South CGST arrests firm partner over Rs 15.78 crore fraudulent ITC
New Delhi, Sept 15 (TNT): Officers of the Anti-Evasion Branch of the Central Goods and Services Tax (CGST), Delhi South Commissionerate, have arrested a partner of an iron and steel trading firm for allegedly availing, utilising and passing on inadmissible Input Tax Credit (ITC) of over Rs 15.78 crore through bogus invoices worth about Rs 87.67 crore.
The investigation found that the firm had availed ITC on invoices issued by multiple firms, several of which were found to be non-existent, non-functional, suspended or cancelled.
Field verification also established that some of the suppliers had no genuine business activity at their declared places of business, the CGST said on Tuesday.
Further investigation revealed that the ITC was availed without actual receipt of goods and was subsequently passed on to various recipients through invoices issued without corresponding supply of goods.
Based on evidence gathered during the investigation and statements recorded under Section 70 of the CGST Act, 2017, the accused was arrested on September 14 under Section 69 of the Act.
He was produced before the Patiala House Court, which remanded him to 14 days’ judicial custody.
Further investigation in the case is underway.
TNT KM
