New Delhi: The Directorate General of GST Intelligence (DGGI) has secretly discovered that some exporting companies have input tax credit (ITC) on the invoices of non-existing and bogus firms or firms that have not procured any of their own. Is engaged in taking advantage of The ITC thus obtained was used to pay IGST on export goods, which were later claimed as cash refunds. Thus the Government exchequer was being subjected to double losses, ie on one hand ITC was taken on un-exported goods and on the other hand it was fraudulently obtained in the form of cash withdrawal also. The cash back amount of IGST thus received is about Rs 61 crore.
The DGGI Headquarters conducted raids on these exporting companies and their owner’s residences as well as various supplier companies on 06.03.2020. It was found that these supplier companies had only billed these exporters without supplying the goods. The exporters had taken ITC on these fake bills and showed the export of the goods and also took refund on it. The controllers of these exporting firms were arrested by DGGI on 06.03.2020. However, the owner of the supplying firms in Ludhiana was a fugitive and could not be apprehended. Despite giving several summonses, he was not even present for investigation. This owner of supply firms seems to be a habitual economic offender and many cases are registered against him and his companies. Earlier he was placed under preventive detention under Cofeposa in a commercial fraud case after being investigated by DGRI.
A reliable information was received that the said person is hiding in a famous five star hotel in Shimla. A team of officers was sent to Shimla, who arrested it from that hotel on the morning of 07.10.2020. After his arrest, he was produced before a competent court which sent him to Tihar Jail in New Delhi for 14 days of judicial custody. Further investigation in the case is going on.
Also read in Hindi: DGGI ने किया GST में धोखाधड़ी करने वाली कंपनियों का पर्दाफाश, 61 करोड़ के घोटाले का आरोप