Bail application rejected in Alleged bogus GST refund & wrongful ITC availment case

Rakesh Arora Vs State of Punjab (Punjab And Haryana High Court) Conclusion: Application of bail by assessee was rejected as assessee  had created three fake firms for procuring bills from the firms based at Delhi who had no purchases and tax which was not deposited for these transaction was utilized by the firms for not only availing ITCs but for getting the refunds by showing the sales to export units. Thus, refund was received for the tax which was actually never received by Revenue. Held:  GST Department had information that three firms were engaged in availing and passing bogus Input Tax...