By TIOL News Service

NEW DELHI, JAN 16, 2021: THE Central Goods and Service Tax (CGST)-East Delhi Commissionerate have arrested a man for issuing fake bills of Rs 79.5 crore involving fraudulent Input Tax Credit (ITC) of Rs 14.4 crore, the Finance Ministry said today.

In the ongoing campaign against fake and bogus invoices leading to the culprits availing ITC illegally, Mr Nitin Jain, a chartered accountant by profession was arrested.

"Mr Jain floated three firms, Anshika Metals, N.J Trading Co. and A.J Enterprises, using the identity of his family members, with the intent of passing of inadmissible ITC," the ministry said. All the e-way bills generated to transport the goods were also found to be fictitious by the commissionerate.

Mr Jain's name had also come up in two other investigations by the Delhi East Commissionerate where culprits Mr Sachin Mittal and Mr Dinesh Jain were found guilty of issuing bogus invoices and passing fake ITC of Rs 12 crore and Rs13.98 crore, respectively.

In their statements, both had taken Mr Jain's name and stated that he had arranged for and provided them fake bills and invoices of different firms on commission basis, the Finance Ministry said.

Mr Jain, who was absconding since 16 December 2020, finally appeared before the investigating officers on Wednesday and accepted that he had floated three fictitious firms.

The Ministry of Finance said the consolidated amount of detection under fake invoices for the current year is Rs 3,684.46 crore with 18 arrested in the zone.