Home GST CGST Mumbai busted ITC Racket of Rs.5 crores using Bogus Invoices; Mastermind arrested

CGST Mumbai busted ITC Racket of Rs.5 crores using Bogus Invoices; Mastermind arrested

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CGST Mumbai busted ITC Racket of Rs.5 crores using Bogus Invoices; Mastermind arrested

CGST Mumbai busted ITC Racket of Rs.5 crores utilizing Bogus Invoices; Mastermind arrested

The proprietor and key personnel answerable for the enterprise operations of six enterprises had been detained right this moment by the CGST, Navi Mumbai, on accusations of availing/using/passing on fraudulent Enter Tax Credit score (ITC) obtained from bogus/faux organisations totaling Rs 5.01 crores.

The overall quantity of bogus invoices concerned is roughly Rs. 30 crores, with out precise provide of products or companies. These six companies are M/s Bluesky Buying and selling Firm (GSTIN – 27AAHHN6764P1ZA), M/s Scorpion Enterprises, (GSTIN – 27AKUPD0205A2ZR), M/s C A Merchants (GSTIN – 27AOKPD3230P1ZS), M/s Amrut Merchants Impex (GSTIN – 27AADHA6564L1Z4), M/s Sona Buying and selling Firm (GSTIN – AOKPD2878R1Z4) and M/s Shree Satyam Buying and selling Firm (GSTIN – 27AELPD5876Q1ZM).

An investigation was launched in opposition to the aforementioned companies by a group of officers from Anti-Evasion, CGST & Central Excise, Navi Mumbai.

These corporations obtained and used ITC of Rs. 5.01 crores from fictitious/faux organisations on the idea of faux invoices acquired and handed on.

In line with Sections 132(1)(b) and (c) of the CGST Act, 2017, if a taxpayer points invoices and/or payments with out supplying items or companies or each, leading to wrongful availment or utilisation of enter tax credit score, or avails enter tax credit score utilizing such bill or invoice, the taxpayer is punishable by imprisonment for a time period as much as 5 years and a advantageous.

Moreover, the offences listed above are cognizable and non-bailable beneath Part 132(5). The above-mentioned accused was arrested beneath Part 69 (1) of the Central Items and Providers Act, 2017 for committing offences beneath Part 132 (1)(b) and (c) of the mentioned Act, and was produced earlier than the Judicial Justice of the Peace First Class, Vashi at Belapur right this moment (25.08.2023) and was positioned in judicial custody for 14 days.

This case is a part of the Anti-Evasion drive launched by the CGST, Mumbai Zone, in opposition to fraudsters and tax evaders who’re creating unhealthy competitors for compliant taxpayers and defrauding the federal government exchequer, in response to Shri Prabhat Kumar, Commissioner, CGST and Central Excise, Navi Mumbai Commissionerate.

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