The Directorate General of GST Intelligence (DGGI) has arrested the proprietor of the Delhi-based Shree Balaji Enterprises for fraudulently taking input tax credit(ITC) of over Rs 5 crore through fake invoices, an official statement read. After questioning, he was arrested from the office and was produced before the district and sessions court and taken on remand. “Jindal, during the questioning, admitted that his firm had taken ITC fraudulently on the invoices issued by non-existent fake firms and then passed on such ITC to the various spinners, said Chikkara. The officials said Jindal had committed offences under the provisions of sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017, all of which that are cognizable and non-bailable under Section 132(5) of the CGST Act, 2017. The offence is punishable under Section 132(1)(i) of the CGST Act, 2017.

Source: Hindustan Times July 16, 2019 23:48 UTC