New Delhi: In pursuance of ongoing investigation of fraudulent passing of Input Tax Credit (ITC) wherein one person namely Satender Kumar Singla of Hisar was arrested on November 12, the Directorate General of GST Intelligence (DGGI), Regional Unit, Rohtak arrested one more person,Vikas Jain, of Jind on November 23, the Ministry of Finance informed here today.
Jain was arrested under Section 69(1) of the CGST Act, 2017, following which he was produced before the Judicial Magistrate First Class (JMIC),Rohtak who remanded him to judicial custody of 14 days. Further investigations in the matter were in the progress.
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As a proprietor of a firm, he was found involved in issuing fake invoices having taxable value of Rs. 27.99 Crore and was also found involved in handling cash of other such firms issuing fake invoices to pass ITC fraudulently. He had, the Ministry stated, committed the offence as well as abetted the commission of offence by issuing fake invoices from various firms without actual movement of goods having taxable value of Rs. 75 Crore (approximately) and fraudulently passing ITC over Rs. 13 Crore. He passed on such fraudulent ITC to some of the buyers who availed of the same to discharge their GST liability against their outward supplies with an ulterior motive to defraud the Government exchequer.
During the course of investigation, Jain admitted his involvement in issuing only invoices without actual movement of goods for earning commission and admitted that cash entries in the records resumed were of such commission which were in his own handwriting, the Ministry said. It added that his offences were committed under the provisions of Section 132(1)(b) & (c) of the Central Goods & Services Tax Act (CGST), 2017, which are cognizable and non-bailable offences under Section 132(5) of the CGST Act, 2017, being punishable under Section 132(1)(l)(i) of the CGST Act, 2017.
– globalbihari bureau
