TMI Blog2024 (2) TMI 283X X X X Extracts X X X X X X X X Extracts X X X X ..... cant is a businessman and he has earned wrongful gain of input tax credit. Offence under section 132 of GST Act is punishable upto 3 years of imprisonment. Applicant is made accused on basis of memorandum given by main accused in the case namely, Ajay Parmar. Applicant is also ready to deposit 5% input tax credit of aforesaid amount. The bail application filed by the applicant is allowed subjec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is submitted that only benefit which applicant will get from said amount is 5% input tax credit or refund of tax. Offence is punishable upto 3 years of imprisonment. Applicant is ready to deposit 5% of Rs. 87,49,147/-. In these circumstances, applicant may be enlarged on bail. 3. Learned Govt. Advocate appearing for the State has opposed the bail application. It is submitted that one Ajay Par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5% of Rs. 87,49,147/- with GST Authorities . (ii) Amount deposited by the applicant will be subject to final judgment to be passed by the trial court. (iii) If said amount is not deposited by the applicant within period of 30 days after being released on bail then trial court shall pass orders for arrest of applicant and commit him to jail. 7. It is directed that the applicant shall be r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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