- EFFECTIVE UTGST (RATES) NOTIFICATIONS
- IGST (Rates) Notification
- UTGST Circular
- UTGST (Rules) Notification
- SGST Circular
- Cess Circulars
- Compensation Cess (Rules) Notification
- Compensation Cess (Rates) Notification
- CGST (Rates) Notification (Effective)
- CGST (Rules) Notification (Effective)
- CGST (Rates) Notification
- IGST Circulars
- IGST (Rules) Notification
- CGST Circular
- CGST (Rules) Notification
NEW DELHI, MAY 24, 2018: THE ghost of abuse of Cenvat credit is back in GST regime also. Nothwithstanding the fact that ITC under GST is a strict regime, fraudsters in the industry & trade seem to be experimenting with new tricks up their sleeves. In a recent case booked by the East Delhi GST Commissionerate, a father-son duo were caught issuing fake ITC invoices to the tune of Rs 28 crores. The fearless duo were finally picked up by the GST sleuths and they have been put in judicial remand for 14 days. It is the first case of arrest in Delhi, under the new tax regime that came into force on July 01, 2017. Searches were conducted at several places during which various incriminating documents and evidence were found. Investigation that followed revealed involvement of the father and son. Both were arrested under Section 69 (1) of CGST Act and the Chief Metropolitan Magistrate, Patiala House, remanded them to judicial custody for 14 days. It may be noted that u/s 132 of the CGST Act, issuance of an invoice or bill without supply of goods and wrongful availment or utilization of input tax credit is a cognizable and non-bailable offence if the amount involved is over Rs 5 Crores.
|