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One held by DGGI Rohtak for issuing fake invoices of input tax credit

One held by DGGI Rohtak for issuing fake invoices of input tax credit

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Rohtak (Haryana) [India], November 24 (ANI): The Directorate General of GST Intelligence (DGGI) on Monday arrested one person in Haryana's Hisar pertaining to the ongoing investigation of fraudulent passing of Input Tax Credit (ITC).
Vikas Jain, the proprietor of a firm, was found involved in issuing fake invoices having a taxable value of Rs. 27.99 Crore and was also found involved in handling cash of other such firms issuing fake invoices to pass ITC fraudulently, an official statement from DGGI read.
According to it, "Vikas Jain committed the offence by issuing fake invoices from various firms without actual movement of goods having a taxable value of Rs. 75 crore (approx.) and fraudulently passing ITC over Rs. 13 crore. He passed on such fraudulent ITC to some of the buyers who availed of the same to discharge their GST liability against their outward supplies with an ulterior motive to defraud the Government exchequer."
During the course of the investigation, Vikas Jain admitted his involvement in issuing only invoices without actual movement of goods for earning commission and admitted that cash entries in the records resumed were of such commission which was in his own handwriting, the DGGI report stated.
"Vikas Jain has committed offences under the provisions of Section 132(1)(b) & (c) of the Central Goods & Services Tax Act (CGST), 2017, which are cognizable and non-bailable offences under Section 132(5) of the CGST Act, 2017, being punishable under Section 132(1)(l)(i) of the CGST Act, 2017," it added.
The accused was produced before the Judicial Magistrate First Class (JMIC), Rohtak and was sent to judicial custody of 14 days.
Further investigations into the matter are in the progress. (ANI)

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dggi input tax credit fault gst defaulter haryana

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