NEW DELHI: CGST Delhi West officials on Wednesday arrested one person for fraudulently availing Input Tax Credit (ITC) of about Rs 8 crore. On the basis of an alert, an investigation against a steel firm was undertaken by CGST Delhi West Commissionerate, an official statement said. One Karan Kumar Aggarwal, in his voluntary statements, has admitted that he looks after all day-to-day transactions and operations of Niyati Steels. The said firm has availed ITC of Rs 7.7 crore from non-existent entities, it said. In view of his own admission of his involvement in availment of ineligible/ inadmissible ITC and substantiated by data analytics, Agarwal was arrested for offences under Section 132 of the Central Goods and Services Tax Act, 2017 and remanded to judicial custody for 14 days. FOLLOW US ON SOCIAL MEDIAFacebookTwitterInstagramKOO APPYOUTUBE
Source: https://timesofindia.indiatimes.com/city/delhi/cgst-delhi-officials-arrest-businessman-for-fraudulently-availing-itc-of-about-rs-8-crore/articleshow/93330802.cms
