Goods and Services Tax – GST Dated:- 30-10-2020 – News – Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST),Commissionerate, Delhi (East) have busted a major racket for generation of huge inadmissible input tax credit (ITC) through fake billing of ₹ 1,278 crore (approx). The well established syndicate was being operated by floating seven different fake firms with the intent of passing of inadmissible credit to the tune of ₹ 137 crores (approx). Searches were conducted over more than nine places spread over different locations in the state of Delhi and Haryana to identify the taxpayers, who were defrauding the Government of its legitimate taxes. The modus operandi
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y. The primary beneficiary firm of this bogus billing network, was M/s Maya Impex, which has been registered in the name of Shri Ashish Aggarwal s 66 years old mother through which fake ITC of ₹ 77 crore has been passed on. Shri Ashish Aggarwal knowingly committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable offences as per the provisions of Section 132(5) and punishable under clause (i) of the sub section (1) of Section 132 of the Act ibid. The fake billing operation was primarily engaged in generating and passing of fake ITC primarily to the milk products industry. Bogus invoices were raised against fictitious sale of milk products such as Ghee, milk powder e
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