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2021 (10) TMI 253 - HC - GSTSeeking grant of Bail - irregular availment and passing of bogus Input Tax Credit (ITC) on the strength of those fake invoices - offences punishable under section 132 (1)(b)(c) and (1) of OGST Act, 2017 - HELD THAT:- It is stated that the Petitioner as the proprietor of M/s. S.R. Enterprises has availed bogus ITC worth of ₹ 9.35 crores without physical receipt of goods on the strength of fake invoices obtained in the name of fake and non-existent firms and passed on bogus ITC worth ₹ 9.65 cores without the supply of goods in the reality and those are in favour of recipient firms inside and outside the State of Odisha. All those firm members have given their statements in the directions - In order to regularize the transactions, it is said that at the time of effecting sales, he was arranging purchase invoices against the goods purchased out of account from fake and non-existent firms and was taking adjustment of ITC in violation of law. In this way, it is said that the Petitioner was going on defrauding the State exchequer which so far stand at ₹ 19.04 crores (both passing and availment of ITC). The Petitioner is said to have been involved in the above specific economic offences of quite significant magnitude which are considered to be grave. Such dubious roles alleged to have been played by the Petitioner stand in the direction of making hefty unlawful and unimaginable financial gain by giving the show that for such sincere involvement in the business and carrying out the same, his entitlement to the huge sum as incentive in the form of Input Tax Credit (ITC) flowed which he received, but in reality as per the case laid, it is having the tendency of foiling the whole idea behind the introduction of the new Tax Regime so as to achieve the objective of speeding up the run of the Nation to stand at the forefront having a key position in the economic map of the globe. The BLAPL stands dismissed.
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