Firm busted for fraud of Input Tax Credit of around 24 crores, 2 sent to judicial custody
GST
Dated:- 20-3-2020
Officers of Anti-Evasion, Central GST Commissionerate, Delhi East, have unravelled an operation involving availment of fraudulent Input Tax Credit on the basis of fake invoices and evasion of GST by utilizing the said fraudulent ITC of ₹ 24 crores approx. by M\/s Shub Conductors LLP.
\nInvestigation was initiated against M\/s Shub Conductors LLP on intelligence that the firm had been availing fraudulent ITC on the basis of fake invoices raised by fictitious suppliers. Searches were conducted in the premises of M\/s Shub Conductors LLP along with the suppliers suspected of being fake. It was found that among other f<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n names of fictitious entities for the sole purpose of creating a complex network of transactions among themselves, including transfer of money in bank accounts to make them appear genuine. This enabled them to raise fake invoices to manufacturers such as M\/s Shub Conductors LLP, who availed the fraudulent Input Tax Credit without actual receipt of goods. The money received in Bank accounts was then withdrawn and routed back in cash to the recipients. Thus, the operation involved not only violation of GST law but also laundering of money. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Firm busted for fraud of Input Tax Credit of around 24 crores, 2 sent to judicial custody GSTDated:- 20-3-2020Officers of Anti-Evasion, Central GST Commissionerate, Delhi East, have unravelled an operation involving availment of fraudulent Input Tax Credit on the basis of fake invoices and evasion of GST by utilizing the said fraudulent ITC of ₹ … Continue reading “Firm busted for fraud of Input Tax Credit of around 24 crores, 2 sent to judicial custody”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-68958","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/68958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68958"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/68958\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nSearches were conducted in the business of M\/s Shub Conductors LLP, as well as the residential premises of the partners, namely, Shri Vishal Gupta and his wife, Smt. Divya Gupta. The partners were not foun<\/p>\n
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