GST officers arrest two businessmen for Rs 201 cr tax evasion
New Delhi: GST officers have arrested two city-based businessmen for evading taxes worth Rs 201 crore by fraudulent issuance of invoices of Input Tax Credit (ITC) without the actual supply of goods.
The Central GST Delhi West Commissionerate arrested two Rohini-based businessmen in Delhi today for Rs 201 crore tax evasion by fraudulent issuance of Input Tax Credit (ITC) invoices without the actual supply of goods, the Finance Minister said in a statement.
“Searches were conducted at several places during which various incriminating documents and evidences were found. During the investigation, it was revealed that the businessmen had floated multiple entities for issuing such fake invoices,” the statement said.
“Both of them were arrested under Section 69(1) of the CGST Act, 2017 and produced before the Metropolitan Magistrate, Patiala House in the national capital,” it added.
Further investigations are underway and the quantum of evasion is likely to go up.
Officers were not ruling out the possibility of the existence of several other fake firms as the investigation moves ahead, the ministry added.