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September 23, 2021

GST fraud of 35 cr by sole proprietor

by CA Shivam Jaiswal in GST

GST fraud of 35 cr by sole proprietor

Government of Haryana 
Excise and Taxation Department
Haryana State GST-Intelligence Unit

Press Release

The Haryana State GST Intelligence Unit has arrested Vijay Garg, Proprietor of M/s Shree Shyam Traders, GSTIN – 06AKQPA4209F1ZH registered at Sec – 5 Road, Dharam Colony, Palam Vihar, Gurugram under the provisions of the HGST Act, 2017. The firm dealt in trading of iron and building material and was indulged in the practice of availing and passing of bogus input tax credit.

It came to notice that two more such firms namely M/s Shree Shyam Traders (GSTIN – 06AEQPG6869P1ZH) and M/s. Satyasa Enterprises (GSTIN – 06BDLPG3178G2ZH) were managed/operated by the members of the same family including the accused who was arrested.

The total turnover of the firms of the accused is approximately Rs. 400 Crores and amount of GST fraud committed by the firm was to the tune of Rs. 35 Crores. Recovery of Rs. 5 Crore approx. has also been made including blocking of ITC of Rs. 1.2 Crore.

The accused was arrested from Delhi after his anticipatory bail application had been rejected by the Hon’ble Supreme Court He has been produced before the District Court, Gurugram and has been sent to judicial custody for 14 days. Further, investigation is under progress.

Government of Haryana has zero tolerance for fake/bogus firms and appropriate action under the Act will be taken against people floating such bogus firms and recipients availing ITC from such bogus firms.

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