The Directorate General of GST Intelligence (DGGI), Hosur, has arrested the proprietor of an unnamed firm for fraudulent input tax credit of ₹9.64 crore without actual receipt of goods.
Officers from DGGI’s Hosur unit conducted searches at the business premises of the proprietorship firm following a crackdown on 21 fake or non-existent firms through which the accused had availed input tax credit on a value of ₹321.37 crore.
According to the DGGI release, the investigating unit carried out search operations at the firm dealing with goods falling under Chapter 71 of the Customs Tariff Act, 1975 (engaging in the manufacture of gold and silver articles/jewellery, and trading of gold) and found that the firms had passed on fraudulent input tax credit to the said firm without actual supply of goods.
According to the release, the authorised proprietor of the said firm had “admitted to availing and utilising fraudulent input tax credit without actual receipt of goods.”
The accused was produced before the judicial magistrate and remanded to judicial custody.
Published – January 18, 2025 06:20 pm IST
