DGGI arrests one more in Haryana for issuing fake invoices

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SME Times News Bureau | 24 Nov, 2020
In pursuance of ongoing investigation of fraudulent passing of Input Tax Credits (ITC) wherein Satender Kumar Singla of Haryana's Hisar was arrested on November 12, the Directorate General of GST Intelligence's (DGGI), Regional Unit, Rohtak has arrested one more person, identified as Vikas Jain, of the state's Jind.

According to the DGGI, Jain was the proprietor of one of the firms 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 ITCs fraudulently.

Jain has thus 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, it said.

As per investigations, Jain 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 public exchequer.

During the course of investigation, 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.

Jain was arrested under Section 69(1) of the CGST Act, 2017, following which he was produced before the Judicial Magistrate First Class, Rohtak, which sent him to 14 days judicial custody. Further investigations in the matter are in the progress.