India, Sept. 15 -- The Government of India has issued a release:
As part of its ongoing enforcement drive against fraudulent Input Tax Credit (ITC) claims, the officers of Anti-Evasion Branch of the Central Goods & Services Tax (CGST), Delhi South Commissionerate, have arrested a partner of the firm engaged in trading of iron and steel goods in a case involving fraudulent availment, utilisation and passing on of inadmissible ITC aggregating to over Rs. 15.78 crore through bogus invoices of approximately Rs. 87.67 crore.
Investigation revealed that the firm had availed inadmissible ITC on the basis of invoices issued by multiple firms, several of which were found to be non-existent, non-functional, suspended or cancelled. Field verificatio...