Home GST Businessman arrested for GST Fraud of Rs.5.53 Crore

Businessman arrested for GST Fraud of Rs.5.53 Crore

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Businessman arrested for GST Fraud of Rs.5.53 Crore

GST Pretend Bill: Businessman arrested for GST Fraud of Rs.5.53 Crore

The Central GST Division has arrested a businessman in Raipur for allegedly availing and utilising ITC (enter tax credit score) value Rs 5.53 crores by issuing a pretend bill.

Md. Abu Sama, CGST Raipur commissioner, of the Central GST, arrested Anush Gangwani, the proprietor of M/s Gurunanak Gross sales in Raipur, on Friday beneath Part 69(1) of the CGST Act 2017.

The investigation confirmed that Gangwani had organised a community of 5 pretend companies, solely for the aim of offering pretend enter tax credit score to dishonest merchants in Chhattisgarh.

By utilising fraudulent Enter Tax Credit score (ITC) with none precise transaction of products or companies, this criminality led to a staggering GST evasion of Rs. 5.53 crores.

The accused was introduced earlier than a court docket in Raipur and has been ordered to remanded into custody for 14 days.

Tax evasion has been actively combated by the Central GST Raipur, which has targeted on fraudulent billing practises. The enforcement company has destroyed two related rackets within the final two months.

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