HC refuses bail in case of alleged Fake ITC exceeding Rs. 5 Crore

Yogesh Jagdish Kanodia Vs State of Maharashtra (Bombay High Court)

Conclusion: Where Input Tax Credit (ITC) had been wrongly availed exceeds Rs.5 crores it would amount to a cognizable and non-bailable offense and the offence was punishable with imprisonment for a term, which could extend to five years and with fine under section 132 (1) (i) of the CGST Act.

Held:  The respective authority proceeded against assessee on the basis that he had committed offe

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