HISAR: In pursuance of ongoing investigation of fraudulent passing of Input Tax Credit (ITC) A person named Satender Kumar Singla of Hisar was arrested on 12th November by the Directorate General of GST Intelligence (DGGI), Regional Unit.
In the same case, the Gurugram Zonal Unit has arrested one more person Vikas Jain, of Jind. The accused is the proprietor of one of the firms and as a proprietor of a firm was found involved in issuing fake invoices having taxable value of Rs. 27.99 Crore and was also found involved in handling cash of other such firms issuing fake invoices to pass ITC fraudulently.
Thus, the accused has himself committed the offence as well as abetted the commission of offence by issuing fake invoices from various firms without actual movement of goods having taxable value of Rs. 75 Crore (approx.) and fraudulently passing ITC over Rs. 13 Crore.
He passed on such fraudulent ITC to some of the buyers who availed of the same to discharge their GST liability against their outward supplies with an ulterior motive to defraud the Government exchequer.
During the course of investigation, Vikas Jain has admitted his involvement in issuing only invoices without actual movement of goods for earning commission and admitted that cash entries in the records resumed were of such commission which were in his own handwriting.