1. Home >
  2. Export Import News >
  3. GST News >
  4. 5 firms booked, 3 sent to judicial custody for Rs 22-crore GST fraud >
  5. 5 firms booked, 3 sent to judicial custody for Rs 22-crore GST fraud

Online Export Import Data Search

Complete Training Video : Click Here

5 firms booked, 3 sent to judicial custody for Rs 22-crore GST fraud.

Date: 23-05-2019
Subject: 5 firms booked, 3 sent to judicial custody for Rs 22-crore GST fraud
Hyderabad: Five firms were booked and three honchos of these entities have been arrested for generating fake invoices and availing Rs 22.64 crore ineligible tax credit. 

Based on specific information received from Kolkata and further intelligence gathered in the city, GST  officers registered cases against five firms — Hindustan AAC Products, Aitri Engineers & Contractors Ltd, Sri Krishna Castings, Shree Metals and Aavya Enterprises located in Jeedimetla and Balanagar. 

They also arrested Sandeep Kumar Gupta, Vamsi Krishna and Amit Agarwal. Saneep had created fake invoices and pocketed commision. He also floated a company in the name of his relatives, while Amit was the receiver of fake invoices, sources said. 

“The companies have been indulging in procuring and supplying fake GST invoices without actual supply of goods mentioned in the invoices such as mild steel scrap, copper scrap and aluminium scrap. In this method, they have been passing on fraudulent input tax credit (ITC) since July 2017,” GST principal commissioner, Medchal, M Srinivas said. Central GST Commissionerate, Medchal, officials also found out that some fraudsters were utilising ITCs obtained through illegal means to offset their GST liability on their manufactured goods, thereby evading tax payable to the government. The value of goods involved in the entire investigation was approximately Rs 131 crore and ineligible ITC availed by the accused was Rs 22.64 crore, the principal commissioner said. 

During searches conducted at different locations on May 15 and May 17, the GST officials seized unaccounted cash of Rs 20 lakh, $4,150 and several incriminating documents. The GST officials shared details of the seized cash with income tax department . 

Also, initial investigation revealed that the details of vehicles mentioned by the culprits in the e-Way bills, indicating that huge volume of goods were carried in them, were fictitious. So far, three key persons, holding senior managerial posts of the firms have been arrested. They were later sent to judicial custody for 14 days. 

Source: timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 19-09-2019

Date: 17-09-2019
Notification No. 30/2019-Customs
Seeks to amend notification No. 50/2017-Customs dated 30.06.2017 to reduce basic customs duty on Open cell (15.6” and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels and certain goods for use in the manufacture of Open cell of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels.

Date: 14-09-2019
NOTIFICATION No. 37/2019-Customs (ADD)
Seeks to impose the definitive anti-dumping duty on the imports of "Electrical Insulators" originating in, or/and exported from China PR.

Date: 14-09-2019
NOTIFICATION No. 36/2019-Customs (ADD)
Seeks to rescind notification No. 11/2015-Customs (ADD) dated 11th April, 2015.

Date: 13-09-2019
Notification No. 64/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 13-09-2019
Public Notice No. 33/2015-2020
Annexure I to Appendix 2A revised.

Date: 13-09-2019
PUBLIC NOTICE NO. 32/2015-2020
Enlistment under Appendix 2E of M/s Expo Overseas Entrepreneurs Association (EOEA) Indore Madhya Pradesh- Authorized to issue Certificate of Origin (Non-Preferential)- reg.

Date: 13-09-2019
Notification No. 65/ 2019-Customs (N.T.)
Amending Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997 so as to include Barhi, Distt Sonepat, Haryana

Date: 13-09-2019
Circular No. 31/2019-Customs
Revised Norms for Execution of Bank Guarantee under Advance Authorisation, DFIA and EPCG Schemes

Date: 12-09-2019
Notification No. 43/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI -reg.

Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001