Monday, December 10, 2018
News

Two held for GST fraud in Gurugram

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Gurugram | Monday, 2018 8:45:04 PM IST
Two people were arrested by a Special Investigation Team (SIT) for their alleged involvement in the goods and services tax (GST) fraud, police said on Monday.

SIT chief Sandeep Kumar said those arrested were identified as an assistant from Gurugram Excise and Taxation department, Gaurav Bahal, and a chartered accountant, Rakesh Arora.

Arora was handed over to the investigation agency for three days police remand while Bahal was sent to jail by a local court.

In an FIR filed in February, after GST dealers fraudulently tried to claim input tax credit, the state excise and taxation department registered a case against a firm purportedly registered as M/s Vipin Enterprises.

Input tax credit is a tax that a business pays on a purchase, which it can use to reduce its tax liability when it makes a sale. In other words, businesses can reduce their tax liability by claiming credit to the extent of GST paid on purchases.

--IANS pradeep/qd/mr

( 168 Words)

2018-04-16-20:16:09 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Trump commits to $750 bn defence budget...
Global cues, oil prices drag equity indi...
New ticket system for Taj Mahal to reduc...
Global cues, political uncertainties sup...
Google, Facebook face greater scrutiny i...
Shell India unveils 'OX' all terrain tru...
More...
 
INDIA WORLD ASIA
Calangute police arrests man for attacki...
Iceland Foreign Minister visits Taj Maha...
Stage set for Opposition parties meeting...
AgustaWestland case: Christian Michel to...
PM Modi condoles demise of Jagdish Thakk...
Rains, snow in J&K...
More...    
 
 Top Stories
Ben Ungermann to bring European inf... 
Global cues, political uncertaintie... 
Beyonce adds spunk to Isha Ambani's... 
India beat Australia by 31 runs in ... 
Rani Mukerji to star in 'Mardaani 2... 
Google, Facebook face greater scrut... 
Rishi Kapoor keeps you on your toes... 
New ticket system for Taj Mahal to ...