Metal co-founder convicted for GST fraud of Rs.10 Crore

Metal co-founder convicted for GST fraud of Rs.10 Crore

Reetu | May 12, 2022 |

Metal co-founder convicted for GST fraud of Rs.10 Crore

Metal co-founder convicted for GST fraud of Rs.10 Crore

The Central Products and Services Tax (CGST) arrested a director of a metal company for allegedly submitting fake invoices without providing goods or services in order to fraudulently claim an Input Tax Credit (ITC) of Rs.10.10 crore.

Sandeep Vaswani, the director of Necil Metal Dealers Pvt Ltd, was arrested under Section 69 of the CGST Act 2017 for GST evasion, submitting phoney invoices, and claiming and utilising fraudulent ITC. The other director of Necil Metal had previously been arrested by CGST inspectors.

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Reetu
Name: Reetu
Designation: Content Manager
Company: Studycafe
Location: Delhi, India
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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.

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