Quick Summary
The Directorate General of GST Intelligence (DGGI), North Zone, Gurugram has arrested three persons, namely Shri Alok Bhargava and his sons Shri Akul and Shri Atin Bhargava, owners of M/s Delhi Foils, M/s Abinox Industries and M/s Matalax Industries, Wazirpur, New Delhi. The above said firms had cumulatively taken Input Tax Credit fraudulently of Rs. 12.90 crore involving invoice value approximating Rs. 72 crore on the strength of invoices issued by non-existent firms without the actual receipt
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FAQ :
Alok Bhargava and his sons Akul and Atin Bhargava, owners of M/s Delhi Foils, M/s Abinox Industries, and M/s Matalax Industries, were arrested.
The total Input Tax Credit fraudulently claimed is £12.90 crore, based on invoices with a value of approximately £72 crore.
The credit was claimed using invoices from non-existent firms without the actual receipt of materials.
They have committed an offence under Section 132 (1) (c) of the CGST Act, 2017, which is a cognisable and non-bailable offence.
The arrests were made on 30.12.2020, and they were remanded to Judicial Custody for 14 days.
No, further investigation into the matter is currently in progress.
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