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Directorate General of GST Intelligence Gurugram has arrested a person in connection with a case wherein a total Input Tax Credit (ITC) of over Rs 160 crore has been utilized and passed on by a network of nonexistent and fake firms.
NEW DELHI, May 18: GST officers have arrested one person in connection with a tax evasion case wherein total input tax credit (ITC)of more than Rs 160 crore have been utilised and passed on by a network of 10 fake firms in tandem with various existing entities, the finance ministry said on Wednesday. Based on intelligence which was analyzed & acted upon by the Gurugram Zonal Unit, it emerged that a merchant, who is an importer and wholesale trader of […]