Delhi-based businessman arrested for Rs 128 cr GST-related fraud : The Tribune India

Delhi-based businessman arrested for Rs 128 cr GST-related fraud

Vehicles shown for transporting the goods found to be operating in some other parts of the country

Delhi-based businessman arrested for Rs 128 cr GST-related fraud

Photo for representation. — iStock

Chandigarh, July 25

A Delhi-based businessman here has been arrested for an alleged Rs 128 crore GST-related fraud, a senior official said on Sunday.

Investigations conducted by the officials of the Chandigarh zonal unit of the Directorate General of GST (Goods and Services Tax) Intelligence (DGGI) revealed that the accused was allegedly involved in issuing invoices without actually procuring goods and thus passing on input tax credit (ITC) to various beneficiaries at several places, including Delhi and Chandigarh.

ITC means that a businessman can reduce taxes already paid on the input while paying tax on the output.

The accused had set up six firms with an intention of passing on the fake ITC to multiple beneficiaries, the official of the Chandigarh zonal unit of the DGGI said.

He said the accused had passed on fraudulent ITC worth Rs 128 crore.

The GST officials also conducted searches at the business premises and residential places of the accused in Delhi and Himachal Pradesh, he said.

Raids were also carried out at the premises of some of the suppliers, the official added.

Investigation further revealed that the items, which were shown as sales, were never bought and similarly some items, which were shown as purchases, were never sold by the firms.

The vehicles, which were shown for transporting the goods, were found to be operating in some other parts of the country.

The accused was into the business of readymade garments, chemicals, cigarettes, among other things. PTI

Tribune Shorts


Top News

Initial probe shows domestic help behind J-K DGP (Prisons)’s death

Domestic help behind J-K DG (Prisons)'s murder; initial probe doesn't point towards terror angle, say police

The 1992-batch IPS officer was found dead on Monday night, w...

Pakistani drone spotted in Punjab's Gurdaspur

Pakistani drone spotted in Punjab's Gurdaspur

Search operation on to check if any packages were dropped in...

Four Punjabis, including eight-month-old girl, kidnapped in California; police release video

Four Punjabis, including eight-month-old girl, kidnapped in California; police release video

Merced County Sheriff's Office says Jasdeep Singh, Jasleen K...

3 drug smugglers arrested in Moga; opium and heroin seized

3 drug smugglers arrested in Moga; opium and heroin seized

Had come to deliver the contraband to local peddlers


Cities

View All