India News | Man Held for GST Fraud of over Rs 10 Cr Remanded 14-day Judicial Custody
Get latest articles and stories on India at LatestLY. Chandraprakash Pandey - partner of M/s CP Pandey and Associates - who was arrested on December 10 for his alleged involvement in over Rs 10 crore Goods and Service Tax (GST) fraud, has been remanded to judicial custody for 14 days.
Mumbai (Maharashtra) [India], December 12 (ANI): Chandraprakash Pandey - partner of M/s CP Pandey and Associates - who was arrested on December 10 for his alleged involvement in over Rs 10 crore Goods and Service Tax (GST) fraud, has been remanded to judicial custody for 14 days.
According to the Central GST Mumbai West officials, Pandey was produced before the Magistrate Court, Mumbai on Friday, wherein he was remanded to judicial custody for 14 days.
Also Read | Lalu Prasad Yadav Health Update: RJD Leader’s Kidney Function Can Deteriorate Anytime, Says RIMS Doctor.
The officials said Pandey was indulged in circular trading by way of issuing fake invoices; availing and passing on fraudulent ITC involving GST of Rs 10.63 crore (approx.) on turnover of Rs 59.10crore (approx.).
"The preliminary investigation has unveiled a network of around 50 firms registered in the same premises and involved in fraudulent activity of circular trading with the intent of issuing fake/bogus invoices and passing on/utilizing the same towards payment of GST," said an official. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)