News Update

COVID-19 - India to vaccinate senior citizens from March 1 + Global death tally surpasses 25 lakh markFDA approves single-shot Johnson & Johnson COVID-19 vaccineCentre lifts embargo on grant of government business to private banksNepal Supreme Court puts life in dissolved Parliament; People jump out on streets for celebrationsCabinet approves PLI Scheme for PharmaceuticalsCabinet approves PLI Scheme for IT HardwareMetals, mining sector important for Aatmanirbhar Bharat: Dharmendra PradhanCabinet approves PLI scheme for IT hardware, pharmaceuticalsGST - It is established that on the issues raised, the Central Tax authorities have initiated proceedings and the same is pending - Application rejected: AARGST - Applicant MCGM is recipient of services and not supplier of services, hence their application is not maintainable: AARMega collision of oil tanker and SUV on Yamuna Expressway - 7 killedST - SVLDRS - Petitioner, in his statement had admitted ST liability of Rs. 6 crore - declaration rejected on the ground that amount of tax dues was not quantified, however, after rejection, SCN issued demanding ST of Rs. 6.13 crores - Order is unjustified, set aside: HCCus - Refund without challenging self-assessment order - Whether decision of SC can be applied retrospectively to those cases where refund had already been granted - Stay ordered of recovery proceeding: HCNoted Punjabi singer Sardul Sikandar succumbs to COVID-19 infectionGST - Petitioner unable to dispense salary to 15000 employees and discharge statutory dues because bank accounts have been attached - Revenue to file status report: HCCX - Appellants have been issued with discharge Certificate SVLDRS-04, therefore, appeals filed are disposed of: CESTATDefence Ministry approves acquisition of proposals worth Rs 13,700CrCentre rushes high-level support teams to 10 States, UT as COVID-19 cases riseESIC eases policy conditions for women to avail sickness, maternity benefitsGST - CBIC clarifies on applicability of Dynamic Quick Response Code on B2C invoicesJustice by weightTime limit for availing ITC7 IRS officers from CBIC join ED as Deputy DirectorsSec 271AAA & Exp 5A to Sec 271(1)(c) are distinct & operate in indepedent space; 200% penalty contemplated u/s 271(1)(c) only: ITAT
 
One more ITC fraud detected; 21 premises raided in Delhi

By TIOL News Service

NEW DELHI, JAN 18, 2021: THE CGST Commissionerate, East Delhi, has unearthed a multi-layered network of fictitious firms being used to generate and pass on fake ITC.

Through the use of extensive data analytics, officers identified and searched 21 premises between 15/01/2021 and 17/01/2021, leading to the unraveling of a network of fake firms that were operating since 2017 to pass on fake ITC.

The network of fake firms was being operated by one Shri Arvind Kumar, who used to pass fake ITC for a commission of 4 to 4.5% of the invoice amount. Investigation conducted so far has revealed 46 firms to be fictitious which were being controlled by Shri Arvind Kumar and his associates. These firms had no business activity and had been created solely for the purpose of passing on fake ITC. The total fake ITC quantified so far is Rs. 82.23 crore generated out of the fake billing of Rs. 541.13 crore which is expected to increase as the investigation progresses.

One Arvind Kumar was arrested under Section 69(1) of the CGST Act, 2017 and produced on 17/01/2021 before the Duty Magistrate, who remanded him to judicial custody of 14 days till 31/01/2021. Further investigation in the case is under progress.

It is pertinent to mention here that since the inception of GST Central Tax, Delhi Zone has made 19 arrests in various cases involving GST evasion amounting of more than 3766.69 crore.


POST YOUR COMMENTS