Speed Post News Network
New Delhi : In the ongoing drive against fake/bogus invoices and resultant availment of inadmissible ITC, officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East), have detected a case of issue of fake bills of Rs 79.5 crore (approx).
The syndicate was being operated by Nitin Jain, CA, by floating three firms i.e M/s Anshika Metals, M/s N.J Trading Co. and M/s A Enterprises, using the identity of his family members, with the intent of passing of inadmissible ITC. Nitin Jain, CA, through these firms has passed on fake ITC of Rs 14.30 crore. All the e-way bills generated to transport the goods were also found fictitious.
Nitin Jain, who was absconding since December 16, 2020, finally appeared before the investigating officers on January 13, 2021, and in his statement accepted that he has floated three fictitious firms using identity of his father Naresh Chand Jain and his wife Diksha Jain for the purpose of availing and passing of fake ITC, according to a PIB release.
Significantly, in two earlier cases of fake billing detected by the Delhi East Commissionerate in which Sachin Mittal and Dinesh Jain were found involved in issue of bogus invoices and had passed fake ITC of Rs 12 crore and Rs 13.98 crore respectively through their firms had in their statements also revealed the name of Nitin Jain and stated that he had arranged/provided them fake bills/invoices of different firms on commission basis.
Nitin Jain by using fake entities on the identity of his family members has knowingly committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act,2017 as amended vide Section -127 of the Finance Act’2020, which are cognisable and non-bailable offences as per the provisions of Section 132(5) and punishable under clause (i) of the sub section (1) of Section 132 of the Act ibid.
Nitin Jain was arrested under Section 69(1) of the CGST Act’2017 and produced before the Duty Magistrate. He has been remanded in judicial custody of 14 days up to January 27, 2021, by the Duty Magistrate. Further investigation in this case is under progress.
The consolidated amount of detection under fake invoices for the current year is Rs 3684.46 crore and the total number of arrests for the Zone is 18.