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1 arrested for fraudulently claiming ITC of Rs 134 crore

1 arrested for fraudulently claiming ITC of Rs 134 crore

The accused is remanded to judicial custody by the Metropolitan Magistrate, Patiala House Courts for a period of 14 days.

1 arrested for fraudulently claiming ITC of Rs 134 crore 1 arrested for fraudulently claiming ITC of Rs 134 crore

The officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East, carried out the detailed analysis and found a network of exporters who were availing fake Input Tax Credit (ITC) of Rs 134 crore under the Goods and Services Tax (GST) with an intent to claim IGST refund fraudulently.

Through scrutiny, the accused was found to be engaged in the export of Pan Masala, chewing tobacco, FMCG goods, etc.

The network of exporters was being operated by a person named Chirag Goel, an MBA from the University of Sunderland, UK. Through an extensive analysis of the e-way bills generated by two supplier companies owned by his associate it was found that the vehicles for which the e-way Bill were generated, purported the supply of goods to states like Gujarat, Maharashtra, and Madhya Pradesh. The fake Input Tax Credit discovered is of Rs.134 crores.

Goel is the accused and mastermind behind the fraudulent conspiracy. He has committed offenses under Section 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable. He is sent to judicial custody by the Metropolitan Magistrate, Patiala House Courts, New Delhi, for 14 days till 26.10.2021. Further investigation in the case is under progress, according to a statement by the finance ministry.