https://www.taxtmi.com/caselaws?id=424237 The HC granted bail to an applicant charged with wrongfully utilizing Input Tax Credit of Rs. 6,95,32,472 and supplying taxable goods without payment of taxes worth Rs. 27,70,559, totaling Rs. 7,23,03,031. The court noted that offences under the Act are bailable and non-cognizable except under Section 132(5), the maximum sentence is 5 years with fine, and the applicant had been in custody since 27.10.2021. Considering co-accused were already granted bail and the compoundable nature of the offence, bail was granted upon deposit of Rs. 70 lakhs under protest. en-us Tue, 21 Jun 2022 00:00:00 +0530 Thu, 03 Apr 2025 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424237 The HC granted bail to an applicant charged with wrongfully utilizing Input Tax Credit of Rs. 6,95,32,472 and supplying taxable goods without payment of taxes worth Rs. 27,70,559, totaling Rs. 7,23,03,031. The court noted that offences under the Act are bailable and non-cognizable except under Section 132(5), the maximum sentence is 5 years with fine, and the applicant had been in custody since 27.10.2021. Considering co-accused were already granted bail and the compoundable nature of the offence, bail was granted upon deposit of Rs. 70 lakhs under protest. Case-Laws GST Tue, 21 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424237