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New Delhi : The Directorate General of GST Intelligence (DGGI), North Zone, Gurugram, on December 30, 2020, arrested three persons : Alok Bhargava and his sons : Akul and Atin Bhargava, owners of M/s Delhi Foils, M/s Abinox Industries, and M/s Matalax Industries, Wazirpur, New Delhi.
The aforesaid firms had cumulatively taken Input Tax Credit fraudulently of Rs.12.90 crore involving invoice value approximating Rs 72 crore on the strength of invoices issued by non-existent firms without the actual receipt of material with an ulterior motive to defraud the government exchequer, according to a PIB release.
Thus, Alok Bhargava and his sons : Akul and Atin Bhargava, have committed an offence under the provisions of Section 132 (l ) (c) of the CGST Act, 2017, which are congnisabe and non-bailable offence under section 132(5) of the CGST Act, 2017, being punishable under section 132 (1) (i) of the CGST Act, 2017. Consequently Alok Bhargava and his sons : Akul and Atin Bhargava, were arrested on December 30, 2020, under Section 69 (1) of CGST Act, 2017 following which they were produced before the Metropolitan Magistrate, Patiala House Court, New Delhi, the same days and remanded to Judicial Custody for 14 days. Further investigation in the matter is in progress.