Seven completely different faux corporations have been floated with the intent of passing of inadmissible credit score to the tune of Rs 137 crore, the finance ministry stated in a press release Thursday. Searches have been carried out at over 9 locations in Delhi and Haryana to determine the fraudulent taxpayers.
Ashish Aggarwal has been arrested underneath Part 132 of the CGST Act on October 29, and has been remanded to transit judicial custody. The first beneficiary agency of this bogus billing community was M/s Maya Impex, which has been registered within the identify of Aggarwal’s 66 years previous mom by which faux ITC of Rs 77 crore has been handed on primarily to the milk merchandise trade.
Bogus invoices have been raised towards fictitious sale of milk merchandise resembling Ghee, milk powder and so forth. Other than the opposite variety of distinct corporations, main manufacturers like Milk Meals Ltd. was one of many main beneficiaries of this inadmissible credit score. Incriminating paperwork pertaining to this racket have been recovered.
To this point the inadmissible enter tax credit score of greater than Rs 7 crore has been recovered. Additional investigations are underway, the ministry stated.
Individually, the Directorate Basic of GST Intelligence (DGGI) Gurugram Zonal Unit arrested Kabir Kumar, resident of New Delhi on costs of making and working fictitious corporations on cast paperwork and passing faux enter tax credit score of over Rs 392 crore by issuance of bogus invoices amounting to Rs 2,993.86 crore with none precise receipt or provide of products or companies.
Kumar created a number of proprietary corporations on paper based mostly in Gurugram, New Delhi, Faridabad, Solan, Noida, Jhajjhar, Sirsa. He admitted to creation of 31 corporations which have generated bogus invoices with out precise provide of products and enter tax credit score. Mutiple evidences, resembling laptop computer, cell phones and 140 SIM playing cards have been resumed from his individual.