Two businessmen arrested for issuing fraudulent ITC invoices, efforts underway to trace absconding directors

Two businessmen arrested in Gurugram u/s 69(1) of CGST Act by Directorate General of GST Intelligence (DGGI) and produced before the Judicial Magistrate 1st Class (JMIC), for fraudulent issuance of fake ITC invoices involving evasion of Rs. 79.21 crores (approx.) on the taxable value of concocted supplies of Rs. 450 crores; This quantum of evasion and gravity of offence is cognizable and non-bailable in terms of Section 132 of CGST Act; Various incriminating documents and evi...