{"id":25740,"date":"2022-02-23T23:30:32","date_gmt":"2022-02-23T18:00:32","guid":{"rendered":"https:\/\/tradebrains.in\/features\/cgst-tax-evasion\/"},"modified":"2022-02-24T08:16:17","modified_gmt":"2022-02-24T02:46:17","slug":"cgst-tax-evasion","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/cgst-tax-evasion\/","title":{"rendered":"CGST unearths fake invoicing racket involved in tax evasion of Rs 38.5 cr; 3 arrested"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-921621005\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 23 (PTI) With the arrest of three people, the CGST on Wednesday unearthed a cartel allegedly running 54 bogus firms registered in the Delhi-NCR region that were engaged in fake invoicing and circular trading, a statement said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4196120188\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The Delhi South, Central Goods and Services Tax Commissionerate received a tip-off that certain bogus firms were created solely for the purpose of generating fake invoices and passing ineligible input tax credit along the chain.<\/p>\n<p> Searches and inspections were conducted across locations spread across Delhi, unearthing a cartel running 54 bogus firms registered in Delhi-NCR region that were engaged in fake invoicing and circular trading, the CGST Commissionerate, Delhi South said in a statement.<\/p>\n<p> Incriminating documents such as rubber stamps and letterheads of several firms, mobile phones, laptops have been seized from the searched premises.<\/p><div class=\"trade-content_5\" id=\"trade-1205106936\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> A preliminary enquiry conducted so far into these transactions has revealed fake invoicing of around Rs 611 crores and tax evasion of over Rs 38.5 crore, it said.<\/p>\n<p> The members of the cartel in their confessional statements have accepted their roles in managing these bogus firms, the statement said.<\/p>\n<p> The people behind these bogus firms hatched the conspiracy to defraud the government and committed offences specified under section sections of the CGST Act which are cognisable and non-bailable, it said.<\/p>\n<p> Three key members of the cartel, Ankit Gupta, the mastermind managing these bogus firms and two of his accomplices, Rabiendra Singh and Rajendra Singh were arrested on Wednesday. The accused were produced before the duty magistrate following which they were remanded to judicial custody for 14 days, the statement added. PTI CPS SKL  AAR AAR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2886759536\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 23 (PTI) With the arrest of three people, the CGST on Wednesday unearthed a cartel allegedly running 54 bogus firms registered in the Delhi-NCR region that were engaged in fake invoicing and circular trading, a statement said. The Delhi South, Central Goods and Services Tax Commissionerate received a tip-off that certain bogus [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-25740","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CGST unearths fake invoicing racket involved in tax evasion of Rs 38.5 cr; 3 arrested - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/cgst-tax-evasion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CGST unearths fake invoicing racket involved in tax evasion of Rs 38.5 cr; 3 arrested\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 23 (PTI) With the arrest of three people, the CGST on Wednesday unearthed a cartel allegedly running 54 bogus firms registered in the Delhi-NCR region that were engaged in fake invoicing and circular trading, a statement said. 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