Track Nation Next on Social Media

Crime

Nagpur businessman Sunil Gutte arrested for Rs 520 crore GST fraud

Mumbai Zonal Unit of the Directorate General of GST Intelligence (DGGI), on Thursday November 12, arrested Nagpur-based businessman Sunil Ratnakar Gutte, Director of Sunil Hitech Engineering Ltd, on charges of having fraudulently availed, utilised, as well as passed on fictitious Input Tax Credit (ITC).
The Input Tax Credit amounted to Rs 520 crores, which was allegedly raised on the strength of bogus invoices received and issued without any actual supply of goods or services.

As per DGGI ? Mumbai Zonal Unit’s investigation, it was found that a large cartel of companies, have allegedly indulged and participated in this fraud. Sunil Hitech Engineers Ltd. had allegedly issued and received fake invoices valued at approximately Rs 3,000 crores and involving ITC amounting to Rs 520 crores.


Investigations conducted by the DGGI across the country have revealed that the beneficiaries of these bogus invoices are located in all parts of the country, including New Delhi, Hyderabad, Ludhiana, Gurugram, Meerut, Ahmedabad, Kolkata, etc.

The investigations have revealed that Sunil Hitech Engineers Ltd. was allegedly one of the key operators involved in the fake ITC cartels throughout India.

In a parallel operation, the DGGI ? Mumbai Zonal Unit also arrested Vijendra Vijayraj Ranka, Director of Shree Oshiya Ferro Alloy Pvt. Ltd. In pursuance of an on-going investigation, the DGGI ? Mumbai Zonal Unit ? unearthed the bogus transactions being allegedly conducted by Shree Oshiya Ferro Alloy Pvt. Ltd.


Subsequent enquiries revealed that Shree Oshiya Ferro Alloy Pvt. Ltd. allegedly had issued as well as received bogus invoices without actual supply or receipt of any goods or service to the tune of Rs 1371 crores, involving ITC amounting to Rs 209 crores fraudulently.
It was also revealed that Shree Oshiya Ferro Alloy Pvt. Ltd. had allegedly made substantial supplies to Sunil Hitech Engineers Ltd.

These bogus transactions were allegedly used not just for generating bogus input tax credit, but also for artificially inflating their turnover so as to gain higher credit limit and bank loans, and also to siphon off funds.
As per Section 132 of the CGST Act 2017, issuance of an invoice or bill without supply of goods or services and wrongful availing or utilisation of Input Tax Credit on a bill or invoice without any supply of goods or services is a cognisable and non-bailable offence.

In light of the massive scale of the frauds allegedly committed Sunil Hitech Engineers Ltd. and Shree Oshiya Ferro Alloy Pvt. Ltd., the directors were arrested under the provisions of Section 69 (1) of the Central Goods and Services Act, 2017 for committing offences under Section 132 (1) (b) and Section 132 (1) (c) of the said act, and were produced before the High Court. Both the accused have been remanded to judicial custody. 

Continue Reading
Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Nagpur News

September 30, 2022 | Nagpur News | नागपुर समाचार | Hindi News Bulletin | Nation Next

Published

on

By

Avani Arya | Nagpur

September 30, 2022 | Nagpur News | नागपुर समाचार | Hindi News Bulletin | Nation Next

Also Read: Nagpur citizens to revel The Raaas Garba next year!

Continue Reading

Politics

Shashi Tharoor is capable of bringing Congress back in power, says Congress leader Ashish Deshmukh

Published

on

By

Radhika Dhawad | New Delhi
Former MLA and Congress leader Dr Ashish Deshmukh spoke about nomination filed by Congress MP Shashi Tharoor for party president post.

Congress leader Ashish Deshmukh looks on while Congress MP Shashi Tharoor files nomination papers for party chief post

Former MLA and Member of Parliamentary Board, MPCC Dr Ashish Deshmukh speaking about the nomination filed by Congress MP Shashi Tharoor for the post of Congress President on Friday, said, “Dr Shashi Tharoor is a popular Congress MP who has done remarkable work for the nation at the international level. It’s very welcoming thing that the election of Congress President is being done in a democratic manner. This is an important step for decentralisation in the party and the future of Congress is bright. Soniaji and Rahulji Gandhi contributed a lot to strengthen the party.”

Former MLA and Congress leader Dr Ashish Deshmukh spoke about nomination filed by Congress MP Shashi Tharoor for party president post.

Shashi Tharoor

Congress leader Deshmukh added, “This is an important step taken by the Congress elites for the elections in a democratic manner so that the party can take a higher flight. Dr Shashi Tharoor has cordial relations with everyone in the party; he has the ability to give a new direction to the party. I believe that he will be able to handle the responsibility of bringing the Congress to power in the country by taking the party forward with new strength. If he seriously deals with issues like unemployment, industry, agriculture, inflation then Congress will have fruitful days. By doing transparent politics, he will definitely convey the thought of Congress to the people at the grassroots level. If you want a rejuvenated, bigger and dynamic Congress party, Dr. Shashi Tharoor is the right candidate. He has the open support of Congress delegates in 12 states and is getting the support of Congress leaders and activists from all over India. He will be elected for sure.”

Deshmukh informed that Tharoor would be visiting Nagpur on October 1 and 2 to hear out all thoughts of Congress delegates.

Also read: Lata Mangeshkar’s 93rd birthday anniversary: Life story of ‘nightingale’

Continue Reading

Nagpur News

Nagpur citizens to revel The Raaas Garba next year!

Published

on

By

Nation Next Newsroom | Nagpur

The Raaas (2018)

Since The Raaas enchanted and enthralled Nagpur with its quality garba in its first year in 2018, the demand for encore has been reverberating the city. To cater to the huge public demand, the organisers of the king of garbas have decided to continue The Raaas next year on. Like its first year, The Raaas Garba will be presented to Nagpur in association with Nation Next in 2023. Mahesh Kukreja, the key organiser said, “Because of some reasons, we, earlier, thought of giving the event a break.”

He added, “Then COVID-19 struck the world. Now we plan to continue it from next year onwards. While I express my gratitude to Nagpurians to make the event a huge hit, I request the city’s garba revellers to not get fooled as a few garbas are falsely claiming to be The Raaas. We’ll be back next year for sure!”

Also read: Mesmerising sunset hues at Ramtek’s Ambala Lake in Nagpur

Continue Reading
0
Would love your thoughts, please comment.x
()
x