GST authorities in Delhi have busted a network of fake exporters and arrested a person for fraudulently claiming input tax credit of Rs 134 crore. The Finance Ministry said that based on risk analysis, M/s Vibe Tradex engaged in export of Pan Masala, Chewing Tobacco, FMCG Goods etc. has been identified for investigation.
Officials of the Central Goods and Services Tax (CGST) Commissionerate, Delhi East conducted a detailed analysis and detected a network of bogus exporters who are availing fake Input Tax Credit (ITC) of Rs 134 crore under the Goods and Services Tax. were and were using them. (GST) with intent to fraudulently claim IGST refund, the ministry said. Chirag Goyal was running a network of fake exporters.
On a comprehensive analysis of the e-way bills generated by the two supplier firms/companies owned by his associate, it was found that the vehicles for which the e-way bill was generated for supply of goods were being used. in distant cities like Gujarat, Maharashtra, Madhya Pradesh and had never entered Delhi during the said period.
The statement said that Goyal had masterminded the conspiracy to cheat the government. He has been sent to judicial custody for 14 days till October 26. Further investigation is on in the matter.
read all breaking news, breaking news And coronavirus news Here. follow us on Facebook, Twitter And Wire.
.