Quick Summary
CGST Delhi West officials arrest one for fraudulently availing ITC of more than Rs 8 crore On the basis of an alert, an investigation against M/s Niyati Steels has been undertaken by CGST Delhi West Commissionerate. One Shri Karan Kumar Aggarwal in his voluntary statements has admitted that he looks after all day-to-day transactions and operations of the said firm. The said firm has availed ITC of Rs 7.7 crore from non-existent entities. Through further inquiry and the use of analytica
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
Karan Kumar Aggarwal was arrested by CGST Delhi West officials.
The alleged fraud involves fraudulently availing Input Tax Credit (ITC) of more than Rs 8 crore by using goods-less invoices from non-existent entities.
Karan Kumar Aggarwal admitted to availing Rs 7.7 crore for M/s Niyati Steels, and further investigation revealed a total of over Rs 52 crore in ineligible ITC claimed by him and associated firms.
He managed daily transactions for M/s Niyati Steels and admitted to using his Aadhaar for six other firms, issuing goods-less invoices, and selling them for commission.
Karan Kumar Aggarwal has been arrested and remanded to Judicial Custody for 14 days. Further investigation is ongoing.
CAclubindia
