new Delhi. Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit (GZU), Haryana has arrested Nitin Jain, resident of Sonipat, Haryana and proprietor (proprietor) of Delhi-based Messrs Shiv Trade Corporation, for issuing bogus challans (invoices).
During the investigation, it was revealed that Nitin Jain created faux invoices price about Rs 268.three crore by means of his agency M / s Shiva Trade Corporation and one other agency Om Trade Inksim, which manufactures varied gadgets like iron / non-ferrous scrap, ingot, nickel cathode and so forth. Issued. These companies have been opened within the identify of pretend or dummy people. <! –
Through faux invoices, Nitin Jain fraudulently put an enter tax credit score (ITC) of about Rs 41.6 crore into another person's account. This ITC was later utilized by varied our bodies to regulate their GST legal responsibility. Not solely this, such faux ITC was put within the account of some extra patrons who used it to pay their GST legal responsibility associated to their exterior provide. Its foremost goal was to hit the federal government treasury. During the investigation, Nitin Jain confessed to issuing faux invoices in change for a hard and fast fee.
In this manner Nitin Jain has dedicated offenses beneath the provisions of Section 132 (1) (b) and (c) of the Central Goods and Services Tax Act (CGST), 2017, that are cognizable and non-bailable offenses and the CGST Act, 2017. Are punishable beneath part 132. Subsequently, Nitin Jain was arrested beneath part 69 (1) of the CGST Act, 2017 on 12 February 2020 and produced earlier than a judicial Justice of the Peace in Gurugram. The courtroom has remanded him to judicial custody for 14 days. Investigation is in progress on this path.