Tally for CAs in Industry Silver Edition (Single User) Tally Renewal (Auditor Edition) Need Tally for Clients? (Tie-up with us!!!)
Open DEMAT Account with in 24 Hrs and start investing now!
GST - Goods and Services Tax »
Open DEMAT Account in 24 hrs
 Bombay HC dismisses GST Practitioners Association s plea for GSTR9/9C due date extension
 GSTN issues Advisory on Reconciliation Statement to be filed in GSTR-9C
 GST: Know the Resolution for emsigner error you get while filing GST Return with DSC
 Bitcoin trade may attract I-T, GST; taxes to be paid in this fiscal year
 Mismatches in tax returns may cost  GST registration instantly
 More run-ins likely over FY22 GST compensation
 GSTN enables feature to opt in for Composition available for FY 2021-22
 CGST Delhi unearths fake input tax credit racket
 Capital Subsidy received on 90% of Project Capital Expenditure liable to GST
 Honest Taxpayers May Be Spared Brunt Of New Rule GST Input Tax Credit
 Goods and Services tax (GST) return: File your return for December by tomorrow or face penalty | Here are five easy steps to do it
 Income tax returns (ITR) filing dates: Tax experts rue Gujarat HC refusal to extend tax filing dates; demand exemption from late fee, GST amnesty scheme
 Deadline For Filing Annual GST Return Extended
 CBIC extends deadline for filing GST Annual Returns
 GST: CBIC notifies new Rule restricting the use of ITC for discharging the Output Tax liability

CGST Delhi unearths fake input tax credit racket
February, 10th 2021

As part of its drive against fake billing operations, the Central Goods and Services Tax (CGST) Commissionerate, Delhi, has unearthed a multi-layered network of fictitious firms generating and passing on fake input tax credit (ITC). The Commissionerate has said it arrested a key person in the case, who has confessed to involvement in the racket of fake invoices worth 541 crore.

A statement issued by Commissioner CGST, Delhi East, said, “Through the use of extensive data analytics, officers of Delhi East GST were able to identify and unravel a network of 46 fake firms which were operating since 2017 and had passed on fake ITC to multiple beneficiaries.”

It added the investigation conducted revealed that the fictitious firms were being allegedly controlled by one Arvind Kumar and his associates. “He was arrested on January 17. Kumar’s key associate - Kamal Singh (alias Kamal Solanki) had been absconding for the past one month. However, through persistent efforts, the officers could finally apprehend Singh and he has confessed to involvement in the racket of fake billing through which fake invoices to the tune of 541.13 crores were raised,” the statement said.

Singh was arrested under the CGST Act and produced before a duty magistrate on Tuesday, who remanded him in judicial custody till February 23.

The statement added that since the inception of GST, Delhi Zone has made 21 arrests in various cases involving evasion amounting to more than 3791.65 crore.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2021 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting