Home » Finance » DGGI books 3 firms for Tax evasion of more than Rs 600 Crore

DGGI books 3 firms for Tax evasion of more than Rs 600 Crore

A case was booked against M/s. Fortune Graphics Limited, M/s. Reema Polychem Pvt. Ltd. & M/s. Ganpati Enterprises, who were found involved in issuance of invoices without any actual supply of goods. The case was detected and developed by the officers on further data analytics out of a case booked against one of the exporters, M/s Anannya Exim, covered in the all India joint operation launched by DGGI-DRI in September 2019, against various exporters for fraudulently claiming IGST refund on the strength of ineligible ITC. During the investigations conducted by the DGGI Hqrs, it has emerged that the aforesaid three Companies/Firms namely M/s. Reema Polychem Pvt. Ltd., M/s. Fortune Graphics Limited and M/s. Ganpati Enterprises have issued invoices worth more than Rs. 4,100 Crorewherein tax amount of more than Rs. 600 Crorehas been fraudulently passed on as ITC credit to different entities.

In this regard, three persons have been arrested for committing offences under GST Act. Two of them, who were on the run and were continuously avoiding presence in DGGI Headquarters, are directors/proprietor of M/s Fortune Graphics Limited, M/s Reema Polychem Pvt Ltd and M/s Ganpati Enterprises. The third person is the director of M/s AB Players Exports Pvt Ltd and controller of various other export firms/ companies who has claimed IGST refunds on the strength of fake invoices issued by these firms.

All the three persons have been arrested by DGGI (Hqrs.) for committing offences under the provisions of Sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017 and remanded for judicial custody by the Magistrate.

Further investigations in the matter are in progress.

 

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

CBIC introduces flagship Liberalised Authorised Economic Operator Package for MSMEs

Recognising their critical contribution in supporting the economy especially during the present difficult times of ...

Advance Estimates of GDP of 2020-21 released by National Statistics Office

The National Statistics Office (NSO) released today the first Advance Estimates (AE) of GDP for ...

Two more States – Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall

Governments of Kerala and West Bengal have communicated their acceptance of Option-1 to meet the ...

Finance Minister announces measures on AatmaNirbhar Bharat 3.0

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman has announced 12 key measures, ...

Tariff Notification No. 100/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs ...

Permit requirements waived for Transport Vehicles carrying Oxygen

In a crucial step forward, the  ministry of road transport and highways today issued order ...

The Fifteenth Finance Commission hold discussions with its Economic Advisory Council

The Fifteenth Finance Commission (XVFC) had an online meeting with its Advisory Council and other ...

Shri Dharmendra Pradhan addresses USISPF-3rd annual leadership summit; Invites US companies to partner in Aatmanirbhar Bharat campaign

Minister of Petroleum and Natural Gas and Steel, Shri Dharmendra Pradhan today participated in the ...

Government Blocks 118 Mobile Apps Which are Prejudicial to Sovereignty and Integrity of India, Defence of India, Security of State and Public Order

The Ministry of Electronics and Information Technology, Government of India invoking it’s power under section ...

India will play a leading role in the future global political framework in terms of economy and Disaster Risk Management:Nityanand Rai

  The Union Minister of State for Home Affairs, Shri Nityanand Rai has said that ...

WP2Social Auto Publish Powered By : XYZScripts.com