Delhi: GST officials bust 7 firms involved in tax evasion of over Rs 85 crore

 









CGST Delhi East Commissionerate officials have busted a syndicate of seven firms which were involved in Goods and Services Tax (GST) evasion of more than Rs 85 crore.

Initially, the officials had busted a syndicate of five firms who were engaged in availing and utilising fake Input Tax Credit (ITC) of GST. Further investigation revealed that this syndicate was using two more entities namely-- Shree Mahaveer International and Gravity Enterprises.

The officials also received a communication from GST, Gujarat that a car registered in the name of one of the syndicate firm, Blue Water Expotrade Private Limited, was intercepted by them in Ahmedabad.

FastTags of Trucks were affixed on the car to create false movement of export goods from Delhi to Mundra port. The E-way bills in respect of the fake supply were issued by Shree Mahaveer International,” officials said.

On March 10, the CGST officials conducted search at the residence of Rakesh Kumar Jain, proprietor in Shree Mahaveer International and partner in Gravity Enterprises.

They further added, “It was evident that Rakesh Kumar Jain was using multiple firms to avail and pass on fake ITC on bogus invoices and E-Way Bills without actual supply of goods. The quantum of GST evaded by him is more than Rs. 85 crore.”

Rakesh Kuman Jain was arrested on March 10 for committing offences specified under relevant sections of the GST Act, 2017. He was then produced before Metropolitan Magistrate Patiala House Courts, New Delhi.

So far, the investigation has unearthed fake ITC racket by seven firms, namely — Vibe T
radex, Prime Mark Expotrade Private Limited, Blue Water Expotrade India Private Limited, Transglobe Tradex Private Limited, Tirupati Overseas, Shree Mahaveer International, and Gravity Enterprises.

Further investigation in the case is under progress.


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