Circular Trading / Fraudulent ITC Claim- HC denies Bail

By Editor4 Goods and Services Tax Judiciary April 18, 2019

Case Name: P.V. Ramana Reddy Vs Union of India (Telangana High Court)
Appeal Number: Only available for paid members
Date of Judgement/Order: Only available for paid members
Courts: All High Courts, Telangana High Court

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Advertisement P.V. Ramana Reddy S/o. P. Shankar Reddy Vs Union of India (Telangana High Court) High Court held that without going deep, that the petitioners have allegedly involved in circular trading with a turnover on paper to the tune of about Rs.1,289.00 crores and a benefit of ITC to the tune of Rs.225.00 crores. The GST regime is at its nascent The law is yet to reach its second anniversary. There were lot of technical glitches in the matter of furnishing of returns, making ITC claims etc. Any number of circulars had to be issued by the Government of India for removing these technical...

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