2021 (9) TMI 576

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....ithout supply of Goods". The present inquiry was commenced from February­2021 and the Respondent No.2 has already seized relevant documents in connection with transaction, also seized pen­drive. So, custodial interrogation of the applicant is unwarranted. The maximum punishment u/s. 132 of the GST Act, is of Five years and considering the law laid down by the Hon'ble Apex Court in the matter of Sanjay Chandra V/s. C.B.I. 2012 (1) SCC 40, further incarceration of the applicant is unwarranted. He is always willing to co­operate with the investigation. He is permanent resident of Mumbai and therefore, there could not be any apprehension of his absconding. 3. Respondent No.2, tendered reply at Exh­2 and submitted that on the basis of information received in the office on 23.03.2021, vide letter dated 16.03.2021 from CGST & Cx. Jodhpur subject "Ineligible Income Tax Credit (ITC)" in the matter of M/s. Gajmukhi Bullion (GSTIN­08BTJPA0359R1Z9), M/s. Gajmukhi Bullion was found non existent at their registered place of business at Pali (Rajasthan) and no activity was found there. Information was provided regarding recipient of M/s. Gajmukhi Bullion pursuing to juris....

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....r rescheduling the visit of Respondent No.2, copy of GST Registration of M/s. Gajmukhi Bullion, copy of reply filed by CGST Rajasthan and copy of order dated 12.11.2020 passed by the Hon'ble Apex Court of Rajasthan, ledger document of applicant's Firm (Rajasthan and Mumbai), copy of E­mail dated 24.02.2021 furnishing entire details as called for, copy of KYC documents provided by M/s. Karnataka Jewellers, copy of ledger account of M/s. Gajmukhi Bullion, Mumbai in respect of transaction with M/s. Karnataka Jewellers, copy of form of GSTR 3­B from August to December­2020 which includes the transactions with M/s. Karnataka Jewellers. 6. Learned Advocate for applicant tendered written submissions at Exh­3 and additional written submissions at Exh­6. The gist of the said submissions is that till today, the applicant attended the office of Respondent No.2 on 12.05.2021, 14.05.2021, 17.05.2021, 19.05.2021, 21.05.2021, 24.05.2021, 28.05.2021, 31.05.2021, 02.06.2021, 04.06.2021, 07.06.2021, 09.06.2021, 11.06.2021, 14.06.2021, 16.06.2021, 18.06.2021 and 21.06.2021 and thus attended 108 hours investigation. During such investigation, applicant has handed over the ....

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.... M/s. Karnataka Jewellers, ITC amount of Rs. 6.99 Crores by M/s. Balaji Enterprises and ITC amount of Rs. 3.37 Crores by M/s. Kismat Enterprises of which, all three of them are found non existent. Further, during the course of investigation, supplier M/s. Gajmukh Buillion, M/s. Maple Fine Jewellery, M/s. Alentraa Trading Private Limited, Pramod Suraj Prasad Gupta (Eagle Impex), M/s. Center­core Multi­trading Private Limited, M/s. Dolphin Multi Trade Company, M/s. Creative Overseas and M/s. Nevaki Enterprises Private Limited of M/s. Gajmukhi Bullion, Mumbai were found non existent and bogus firms seems to be created, to do paper transaction only. It is submission of Respondent No.2, that current steps of the investigation shows wrongful availment of ITC to the tune of Rs. 5 Crores which as per the sub Section 5 of Section 132 of CGST Act­2017, is cognizable and non bailable offence. Keeping in view huge amount of evasion of Government Revenue of more than of Rs. 30 Crores involving ITC availment of fake invoices and on issue of invoices without supply of goods, together with the crucial role of the applicant, it is prayed that Anticipatory Bail may kindly be rejected. 8....

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....nied to the petitioners in view of special circumstances of that case which Hon'ble Telangana High Court highlighted. In the present case, it is the allegation of Respondent No.2 that the applicant made payment of Rs. 666.37 Crores to M/s. Karnataka Jewellers against deal between M/s. Golden Buillion and M/s. Karnataka Jewellers but received the purchase invoices of Rs. 367.37 Crores from August 2020 to October­2020 from M/s. Karnataka Jewellers and Rs. 226 Crores invoices from M/s. Balaji Enterprises and Rs. 115.66 Crores from M/s. Kismat Enterprises including GST respectively for the goods purchased. No payment was transferred from account of applicant to M/s. Balaji Enterprises and M/s. Kismat Enterprises but to compensate balance amount, invoices of Rs. 305 Crores from M/s. Karnataka Jewellers, he again issued sale invoice of Rs. 305 Crores to M/s. Balaji Enterprises and M/s. Kismat Enterprises against the balance payment, he need to make to both the parties. The case diary reflects that as per the statement of applicant, Janak Kalsaria filed applicant's GSTR­3B, GSTR-2A and GSTR­1 and other returns in the year 2020­2021. However, the E­mail issued ....