Input credit based on fake invoices- HC dismisses Writ Petition & Imposes Rs. One Lakh Cost

Bharat Raj Punj Vs Commissioner of Central Goods and Service Tax (Rajasthan High Court) Facts: The Petitioner No.1 is the Managing Director of M/s Leel Electricals Limited, Petitioner No.2. The CGST Department conducted a raid on 17.01.2019, at the premises of the Petitioners’ Company at Bhiwadi, Rajasthan. After recording of the statements of Officials of Company, they were arrested. As per the case of the Department, the Company had fraudulently availed input tax credit of Rs.40.53 crores by issuance of fictitious sale invoices and sister concerns of company and Petitioner-Company had ...