https://www.taxtmi.com/news?id=19679 Two directors were arrested for allegedly obtaining substantial ineligible credit under GST by exchanging invoices that recorded only paper sale and purchase transactions with no actual movement of goods, and by opening Letters of Credit on fake purchase transactions, conduct described as undertaken with a malafide intention to defraud the exchequer. One alleged offence is classified as non-bailable due to the scale of claimed credits while the other is within bailable limits. en-us Thu, 01 Mar 2018 12:05:06 +0530 Thu, 01 Mar 2018 12:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19679 Two directors were arrested for allegedly obtaining substantial ineligible credit under GST by exchanging invoices that recorded only paper sale and purchase transactions with no actual movement of goods, and by opening Letters of Credit on fake purchase transactions, conduct described as undertaken with a malafide intention to defraud the exchequer. One alleged offence is classified as non-bailable due to the scale of claimed credits while the other is within bailable limits. News - Thu, 01 Mar 2018 12:05:06 +0530 https://www.taxtmi.com/news?id=19679