Goods and Services Tax – GST Dated:- 16-11-2019 – News – Central GST Delhi-West Commissionerate has unearthed racket of issuance of fake invoices without actual supply of goods and services by M/s Royal Sales India and 27 other dummy companies. Two persons have been arrested in this matter and remanded to judicial custody for 14 days by Duty Magistrate, Patiala house Courts, New Delhi. The accused were found to be operating 28 fake companies to facilitate fraudulent Input Tax Credit (ITC), thus defrauding the exchequer. Prima facie, fraudulent ITC of about ₹ 108 Crore has been passed on using invoices involving amount of ₹ 900 Crore . Final duty is subject to outcome of the investigation. On b
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tax liability and in some cases availing IGST refund etc. Till now, 15 buyer firms have already admitted their liability vide their Voluntary Statement and further deposited voluntarily approx ₹ 1.30 Crore towards ITC wrongly availed, Interest and Penalty under Section 74(5) of CGST Act, 2017 till date. Further, approx. ₹ 1.58 Crore has been frozen in Bank Accounts of these fake firms. Therefore, both accused have committed offence under the provisions of Section 132(1)(b) and (c) of CGST Act 2017 , which are cognizable and non-bailable under section 132(5) being punishable under Section 132(1)(i) of the CGST Act 2017 and have been rem
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