Taxmen arrest three for issuing fake GST invoices to claim input tax credit
PrintListen to this Article
Three Bengaluru-based businessmen, who have been arrested, had issued fake GST invoices worth Rs 203 crore to facilitate bogus claims, according to Commercial Taxes Commissioner M.S.Srikar. A dealer can claim input tax credit only against taxes paid.
Their operation came to light during the course of investigations following first series of arrests. In the last one month, the department officials have raided more than 50 business premises in Bengaluru, the Commissioner said in a press release.
The accused persons were identified as Vikram Jeet Duggal, proprietor of Rajiv Enterprises, Ashfaq Ahamed and Nayaz Ahmed. They had obtained 14 GST registrations in the name of their relatives and others and, issued fake GST invoices without selling any goods or services, the release said.
The trio ran an office at the second floor of one of their residences where invoices and e-way bills were being generated. On a visit, the taxmen’s team led by Additional Commissioner (Enforcement) Nitesh Patil found records, and usernames and passwords of 14 firms.
The Commissioner warned dealers that bill-trading and claiming of input tax credits in cases of fictitious transactions was a serious fraud under GST laws. #casansaar (Source - Economic Times)
Category : GST | Comments : 0 | Hits : 629
TEST
Dear Taxpayers, 1. GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is to improve user experience and ensure that the information you need is accessible and easy to navigate. 2. Key Enhancements Include (PDF with screenshots attached): i. News and Updates Section: We have introduced a dedicated tab for all news and updates. This section now includes a bet...
The Supreme Court on Friday issued notices to the central government, the Central Board of Indirect Taxes and Customs (CBIC), the Goods and Services (GST) Council and the National Anti-Profiteering Authority (its functions have been taken over by the Competition Commission of India) on a petition challenging a Delhi High Court verdict, upholding the constitutional validity of anti-profiteering provisions filed by a real estate company. The petition, filed by Swati Realty, says the high court ...
The delectable Malabar Parota will taste even better with the Kerala High Court ruling that the popular flatbread will attract GST at 5 per cent and not 18 per cent. With this the court has turned down order by the State’s Authority of Advance Ruling (AAR) and Appellate Authority for Advance Ruling (AAAR). Disposing a petition by Kochi-based Modern Food Enterprises, a single judge bench of Justice Dinesh Kumar Singh said if key inputs (cereals, flour, starch, etc) and preparations are s...
A businessman from Delhi was taken into custody by the Noida police for his alleged involvement in a massive Rs 15,000 crore GST fraud that was exposed last year, TOI reported. Tushar Gupta, aged 39 and residing in Tilak Nagar, was arrested as the 33rd suspect in this case. The police revealed that Gupta had exploited input tax credit (ITC) using 35 fake companies, resulting in a loss of Rs 24 crore to the exchequer over the past two years. He was reportedly part of a syndicate that utiliz...
Comments