Goods and Services Tax – GST Dated:- 4-8-2022 – News – On the basis of an alert, an investigation against M/s Niyati Steels has been undertaken by CGST Delhi West Commissionerate. One Shri Karan Kumar Aggarwal in his voluntary statements has admitted that he looks after all day-to-day transactions and operations of the said firm. The said firm has availed ITC of Rs 7.7 crore from non-existent entities. Through further inquiry and the use of analytical tools, it was found that six more firms were linked with Shri Karan Kumar Agarwal. These firms on the strength of goods-less invoices worth approx. Rs. 292 crore, have collectively availed ineligible/inadmissible Input Tax Credit (ITC) of more than Rs. 52 crore from non-existent entities
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =