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Man Arrested For Issuing Faux GST Invoices Price Rs 160 Crore


Gurugram: Man Arrested For Issuing Fake GST Invoices Worth Rs 160 Crore

The person was recognized as Pawan Kumar Sharma who arrested on Could 13. (Representational)

New Delhi:

Directorate Normal of GST Intelligence Gurugram has arrested an individual in reference to a case whereby a complete Enter Tax Credit score (ITC) of greater than Rs 160 crore has been utilized and handed on by a community of nonexistent and pretend corporations in tandem with numerous present entities, Ministry of Finance knowledgeable on Wednesday.

As per a launch of the Ministry, primarily based on intelligence which was analyzed and acted upon by the Gurugram Zonal Unit, it emerged {that a} service provider, who’s an importer and wholesale dealer of dry fruits has availed IGST Enter Tax Credit score on imports, however has additional issued obligation paid invoices to varied non-existent corporations, whereas the products (dry fruits) had been offered within the open market to varied retailers.

“Quiet just a few of the corporations, to whom invoices had been issued had been discovered to be non-existent/pretend (registered on GST portal below completely different HSN), who additional issued goodless invoices to fraudulently go on ITC with out provide of any items. The service provider has rendered itself to liable below Part 122 (i) (ii) of the CGST Act, 2017, and many others., as a Consequence of which the service provider has deposited Rs. 5 crore until date, further restoration on this matter is anticipated,” it acknowledged.

In all, ten such pretend corporations busted to this point within the investigation, have fraudulently availed and handed on Enter Tax Credit score (ITC) in extra of Rs 160 crore, bases on inwards from the service provider, and from different pretend/cancelled sources, which is below additional investigation.

Additional, the discharge acknowledged that the controller of 1 such agency to whom obligation paid invoices had been issued with out provide of precise items by the service provider, prima facie handed on fraudulent ITC of Rs. 26.3 crore, was recognized as Pawan Kumar Sharma.

“It emerged by investigation that Pawan Kumar Sharma can also be proprietor of one other agency M/s Pawan Merchants additionally concerned in passing on fraudulent Enter Tax Credit score (ITC).

Accordingly, as per the discharge, Pawan Kumar Sharma was arrested on Could 13, 2022 below the provisions of Part 69 of CGST Act, 2017 learn with clause (b) (c) of subsection (1) of part 132 of CGST Act, 2017 and produced earlier than CMM, Patiala Home Courtroom on Could 13, 2022, who ordered judicial custody for 14 days.

(Apart from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)



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