Quick Summary
The Anti-Evasion Branch of the Central Goods and Services Tax (CGST), Delhi South Commissionerate has arrested a director of a private limited company involved in smartphone trading for allegedly fraudulently availing Input Tax Credit (ITC) worth Rs 60.59 crore using bogus invoices totaling Rs 397.23 crore. The investigation revealed that the supplier entity operated from a co-working space and had no genuine business activity, inventory, or financial records supporting the claimed transactions.
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FAQ :
A director of a private limited company involved in smartphone trading was arrested by CGST Delhi South for allegedly fraudulently availing Input Tax Credit (ITC) worth £60.59 crore.
The fraudulent invoices used to claim the fake ITC amounted to £397.23 crore.
The supplier entity operated from a co-working space and had no genuine business activity, inventory, or financial records.
The offence violates Section 16 and is punishable under Section 132 of the Central Goods and Services Tax Act, 2017.
The arrested director was produced before a magistrate and remanded to 14 days of judicial custody.
CGST Delhi South Commissionerate has already initiated prosecutions against 45 fraudsters in the current fiscal year.
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