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GST - ITC Fraud - DGGI arrests 3 persons in Gurgaon

By TIOL News Service

NEW DELHI, JAN 01, 2021: THE Directorate General of GST Intelligence (DGGI), North Zone, Gurugram has arrested three persons, namely Alok Bhargava and his sons Akul and 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 of material with an ulterior motive to defraud the government exchequer.

Thus, Alok Bhargava and his sons have allegedly committed an offence under the provisions of Section 132 (l ) (c) of the CGST Act, 2017 which are congnizabe and non-bailable offence under section 132(5) of the CGST Act,2017 being punishable under section 132 (1) (i) of the CGST Act, 2017. Consequently Shri Alok Bhargava and his sons Shir Akul and Atin Bhargava, were arrested on 30.12.2020 under Section 69 (1) of CGST Act, 2017 following which they were produced before the Metropolitan Magistrate, Patiala House Court, New Delhi on 30.12.2020 and remanded to Judicial Custody for 14 days.

 


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