This story is from January 24, 2020

Gujarat bizman held for Rs 6 crore ITC fraud

Directorate General of GST Intelligence (DGGI) arrested proprietor of a city-based trading firm for fraudulently availing and utilizing input tax credit (ITC) to the tune of Rs5.56 crore.
Gujarat bizman held for Rs 6 crore ITC fraud
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SURAT: Directorate General of GST Intelligence (DGGI) arrested proprietor of a city-based trading firm for fraudulently availing and utilizing input tax credit (ITC) to the tune of Rs5.56 crore. District court on Thursday sent him to judicial custody for 14 days.
DGGI's Surat zonal unit had raided Karim Traders owned by Salim Ahmed Panjwani located at Udhna Udhyognagar in Udhana. Panjwani had created a chain of firms in Surat, Vapi, Billimora, Ankleshwar and other places in Gujarat to pass on fake ITC.

About 22 premises in Surat, Ankleshwar, Vapi and Billimora were raided by the DGGI two days ago. Scrutiny of seized records seized from Karim Traders revealed that Panjwani obtained GST registration as a trader of grains but had shown supply of scrap and ingots to various firms across Gujarat.
Panjwani availed huge amount from bogus suppliers on basis of fake GST invoices issued to them.
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