4 months ago
1
Officials of the Directorate General of GST Intelligence, Visakhapatnam Zonal Unit, detected fraudulent Input Tax Credit claims worthy ₹5.83 crore by D. N. Srinivasa Reddy, managing spouse of M/s Sri Progressive Projects. The ITC was availed done fake invoices without immoderate corresponding proviso of goods oregon services.
According to a merchandise issued by the DGGI connected Saturday, the invoices were generated by non-existent insubstantial entities. In immoderate cases, fake invoices were raised successful the guise of sub-contracting works by a dummy steadfast controlled by M. Manoj Kumar, who was arrested earlier successful the aforesaid case. He allegedly retained a committee of astir 3% and routed the remaining amounts done mule accounts.
The probe recovered D. N. Srinivasa Reddy to beryllium the main beneficiary of the fraudulent ITC. The offences committed pull the provisions of Section 132(1)(c) of the CGST Act, 2017, which are cognisable and non-bailable. Accordingly, helium was arrested nether Section 69 of the CGST Act, 2017.
