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Delhi-based businessman arrested for GST fraud - GST Station

Delhi-based businessman arrested for GST fraud

Delhi-based businessman arrested for GST fraud

    GURGAON: The directorate general of GST Intelligence (DGGI), Gurgaon zonal unit, arrested the proprietor of Delhi-based Shree Balaji Enterprises for fraudulently availing input tax credit (ITC) worth over Rs 5 crore by generating fake invoice.

    The DGGI on July 12 arrested Ajit Jindal, proprietor of Shree Balaji Enterprises, in Delhi’s Saraswati Vihar. The firm had taken ITC fraudulently to the tune of more than Rs 5.06 crore involving invoice value of Rs 28.11 crore on the strength of invoices issued by fake firms. 

    “The said firm, thereafter, utilised the fraudulently taken ITC to discharge their GST liability against the outward supply, with an ulterior motive to defraud the government exchequer,” the officer said. .

    According to the DGGI, Ajit Jindal has committed offences under the provisions of Sections 132 (1) (c) of the CGST Act 2017; which are cognizable and non-bailable offences under Section 132(5) of the CGST Act,2017, being punishable under Section132(1)(i) of the CGST Act, 2017. 

    Consequently, Ajit Jindal was arrested under Section 69(1) of the CGST Act, 2017. He was produced before local court and sent to 14-day judicial custody.

    “Further investigations in the matter are in progress,” the officer said.

    Source- Times of India.

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