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DGCI arrests 3 for fraudulently claiming input tax credit of Rs 12.90 cr

DGCI arrests 3 for fraudulently claiming input tax credit of Rs 12.90 cr

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New Delhi [India], December 31 (ANI): The Directorate General of GST Intelligence (DGGI), North Zone, Gurugram has arrested three persons for fraudulently claiming input tax credit of Rs 12.90 crores.
The three have been identified as Alok Bhargava and his sons Akul and Atin Bhargava, owners of M/s Delhi Foils, M/s Abinox Industries and M/s Matalax Industries in Wazirpur here, according to the Ministry of Finance.
These firms had cumulatively taken input tax credit fraudulently of Rs 12.90 crores involving invoice value approximating Rs 72 crores on the strength of invoices issued by non-existent firms without the actual receipt of material with an ulterior motive to defraud the government exchequer.
Alok Bhargava and his sons Akul and Atin Bhargava, have committed an offence under the provisions of Section 132 (l ) (c) of the CGST Act, 2017 which are cognizable and non-bailable offence under section 132(5) of the CGST Act, 2017 being punishable under section 132 (1) (i) of the CGST Act, 2017, the Ministry said.
Alok Bhargava and his sons were arrested on December 30, 2020, under Section 69 (1) of CGST Act, 2017 following which they were produced before the Metropolitan Magistrate, Patiala House Court, New Delhi and remanded to judicial custody for 14 days. (ANI)

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arrest dggi input tax credit ministry of finance

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