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2022 (8) TMI 1171 - DSC - GSTSeeking grant of Regular Bail - availing and utilizing wrongful input tax credit - fake firms who have availed and passed on fake input tax credit on the strength of goods-less invoices - HELD THAT:- The present case is a serious economic offence under Section 132(1)(c)(e) read with Section 16(2) (b) of CGST Act, 2017. and it is required to be dealt with zero tolerance. Economic offences constituted a class apart and needed to be visited with a different approach in matter of bail. Economic offence having deep rooted conspiracies and involving huge loss of public funds needed to be viewed seriously and considered as grave offences affecting economy of Country as a whole and thereby posing serious threat to financial health of country. As such, it is required that we should take serious note of such economic offences. The Hon’ble Punjab and Haryana High Court in RAKESH ARORA VERSUS STATE OF PUNJAB [2021 (2) TMI 41 - PUNJAB AND HARYANA HIGH COURT], while dealing with the regular bail of co-accused, has observed that GST was introduced with the object of ‘One Nation, One Tax’, as there is chain of sellers and purchasers, who are inter-connected, as the purchasers get the credit of the tax paid or suffered by the sellers - In the said case also, the bills were procured from the firm based at Delhi, where no purchase was made and transactions were issued by the firms, not only for availing ITCs, but for getting the refunds by showing the sales. Thus, no ground is made out to grant the bail to the accused-applicant. As such, the bail application stands dismissed.
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