2 more arrested by DGGI Gurugram Unit for input tax credit fraud (MOF Press Release dated 25 Aug 2021)

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has earlier busted a case wherein total fake ITC of  Rs 176 crore has been fraudulently passed on by Sh. Sanjay Goel, Prop of M/s. Redamancy World, and Sh. Deepak Sharma, the de–facto controller of 8 non-existent firms. Accordingly Sh. Sanjay Goel, Prop. of M/s. RedamancyContinue reading “2 more arrested by DGGI Gurugram Unit for input tax credit fraud (MOF Press Release dated 25 Aug 2021)”

CGST authorities bust input tax credit fraud of more than Rs 31,000 crore involving more than 7,200 cases in FY 2020-21

The Goods and Services Tax authorities have unearthed over Rs 31,000 crore of tax fraud committed by misuse of input tax credit (ITC) provision under the Goods and Services Tax (GST) regime during the financial year 2020-21 and booked more than 7,200 cases involving fake ITC. This was stated by Union Minister of State forContinue reading “CGST authorities bust input tax credit fraud of more than Rs 31,000 crore involving more than 7,200 cases in FY 2020-21”