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The investigation spanned multiple locations in Delhi-NCR. Based on documentary evidence and statements recorded, it was ascertained that Paras Arora and Devpal Soni, both directors of the firm, were key players in the network of companies availing fraudulent ITC.
Photo Credit : PTI
GST officers have arrested two directors of Faridabad-based F2C Wellness Pvt Ltd for illegally availing input tax credit of over Rs 10 crore by issuing fake invoices, the finance ministry said on Wednesday.
As per investigation conducted till date, the firm showed purchase of cement from non-existent concern namely M/s Vishal Enterprises, Gautam Buddha Nagar using fraudulent invoices not backed by supply of goods. In this way, M/s. F2C Wellness Pvt Ltd, Faridabad had passed fraudulent input tax credit (ITC) of Rs 10.33 crore on invoices without accompanying goods to various end users, the ministry said.
'The CGST Commissionerate, Faridabad, Haryana has arrested two Directors of M/s. F2C Wellness Pvt. Ltd., Faridabad on charges of illegally availing and passing on input tax credit (ITC) by issuance of invoices without supply of goods,' it said.
The investigation spanned multiple locations in Delhi-NCR. Based on documentary evidence and statements recorded, it was ascertained that Paras Arora and Devpal Soni, both directors of the firm, were key players in the network of companies availing fraudulent ITC.
A total fraudulent ITC of Rs 10.33 crore has thus been passed/availed by the firm. Arora and Soni were arrested on August 10, and remanded to judicial custody for 14 days. Further investigation in the matter is under progress, it added.
(PTI)