Base on an intelligence that certain manufacturing companies are engaged in availment of fraudulent ITC (Input Tax Credit) based on fake invoices without receipt of any actual goods in their factories, investigations were undertaken by Nagpur Zonal Unit of Directorate General of Goods and Services Tax Intelligence.
In one such investigation undertaken against M/s. New Age False Ceiling Private Limited, Nagpur, the taxpayer was found to have taken fraudulent ITC of approximate Rs 4.63 crores based on 133 fake invoices without actual receipts of goods. The availment of such fraudulent ITC is a punishable offence under Section 132 of CGST Act, 2017 for which Sh. PawanVinodLal, Accounts Manager of M/s. New Age False Ceiling Private Limited has been placed under arrest today at 1420 hrs.
Sh. Manoj Shashiprakash Gupta, the Director of the Company who is the mastermind behind the entire modus operandi is absconding but is expected to be nabbed soon.
Further investigation in the case is under progress.