Proprietor of Delhi-based firm arrested for evading taxes
New Delhi: GST officers have arrested the proprietor of Delhi-based Shree Balaji Enterprises for fraudulently availing input tax credit worth over Rs 5 crore by generating fake invoice, the Finance Ministry said Tuesday.
The Gurugram zonal unit of Directorate General of GST Intelligence (DGGI) on July 12, 2019, arrested Ajit Jindal, Proprietor of Shree Balaji Enterprises, in Saraswati Vihar, North-West, Delhi, the ministry said in a statement.
The firm had taken ITC fraudulently to the tune of more than Rs 5.06 crore involving invoice value of Rs 28.11 crore on the strength of invoices issued by fake firms.
"The said firm, thereafter, utilised fraudulently taken ITC to discharge their GST liability against the outward supply, with an ulterior motive to defraud the Government exchequer," the statement added.
The offences committed by Jindal are cognizable and non-bailable.
Further investigations in the matter are in progress, the ministry added.