Quick Summary
In the ongoing campaign against fake/bogus invoices and resultant availment of inadmissible ITC, officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have detected a case of issue of fake bills of Rs. 79.5 crore (approx). The syndicate was being operated by Sh. Nitin Jain, C.A by floating three firms i.e M/s Anshika Metals, M/s N.J Trading Co. and M/s A.J Enterprises using the identity of his family members, with the intent of passing of inadmissible ITC. Sh. Nitin Jain
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FAQ :
Chartered Accountant Nitin Jain has been arrested by officers of the Central Goods and Service Tax (CGST) Commissionerate, Delhi (East).
Nitin Jain is accused of operating a syndicate that issued fake bills totalling approximately Rs 79.5 crore and passing on inadmissible Input Tax Credit (ITC) of Rs 14.30 crore.
He floated three fictitious firms, M/s Anshika Metals, M/s N.J Trading Co., and M/s A.J Enterprises, using the identities of his family members to pass on fake ITC.
Nitin Jain passed on fake ITC amounting to Rs 14.30 crore through the fictitious firms.
He has committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017, which are cognisable and non-bailable offences.
Nitin Jain has been arrested under Section 69(1) of the CGST Act, 2017, and remanded to 14 days of judicial custody.
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