The Central Goods and Services Tax, Commissionerate (CGST), Gurugram, has arrested a businessman for Input Tax Credit fraud to the tune of ₹22 crore on Monday.
The accused Rajesh Kumar Gupta of the firm M/s Deep Chand Rajesh Kumar, Gurugram, had passed on Input Tax Credit fraudulently to the tune of ₹22.74 crore involving invoice value of ₹26.11 crore on the strength of invoices issued to 13 non-existent fake firms located in various States.During search proceedings at the residence of assessee, unaccounted cash of ₹90.57 lakh was seized. Further, during the probe the assessee has voluntarily paid ₹1.25 crore towards duty liability.
Rajesh has committed a cognisable and non-bailable offence under Section 132 (5) of the CGST Act 2017.
He was produced before the Additional Chief Judicial Magistrate, Delhi and remanded to 14 days judicial custody.
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