Reetu | Oct 3, 2023 |
GST Fake Invoice: Businessman arrested for GST Fraud of Rs.5.53 Crore
The Central GST Department has arrested a businessman in Raipur for allegedly availing and utilising ITC (input tax credit) worth Rs 5.53 crores by issuing a fake invoice.
Md. Abu Sama, CGST Raipur commissioner, of the Central GST, arrested Anush Gangwani, the proprietor of M/s Gurunanak Sales in Raipur, on Friday under Section 69(1) of the CGST Act 2017.
The investigation showed that Gangwani had organised a network of five fake businesses, solely for the purpose of providing fake input tax credit to dishonest traders in Chhattisgarh.
By utilising fraudulent Input Tax Credit (ITC) without any actual transaction of goods or services, this illegal activity led to a staggering GST evasion of Rs. 5.53 crores.
The accused was brought before a court in Raipur and has been ordered to remanded into custody for 14 days.
Tax evasion has been actively combated by the Central GST Raipur, which has focused on fraudulent billing practises. The enforcement agency has destroyed two similar rackets in the last two months.
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