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The bail application is allowed provided he furnishes a personal bond in the sum of Rs. 1,00,000/- together with two sureties in the sum of Rs. 50,000/-

Section 132 of the CGST Act, 1962 — Bail – The petitioner filed bail application under Section 439 Cr.P.C for the offences under Section(s) 132 of Act. The petitioner submitted that he has falsely been implicated in this case. The companies, said to be fake, have been closed after obtaining NOC from the competent authority. An amount of Rs. 2.6 crore has already been recovered from him. He is in judicial custody since 08.01.2020, complaint has been filed against him on 05.03.2020, the investigation against co-accused persons is said to be pending, and the offence is compoundable and is punishable with maximum sentence of 5 years. The respondent submitted that there are grave allegations against him of fraudulently obtaining ITC and passing of forged GST credit to the tune of Rs. 33.50 crore. He submitted that the investigation is still pending. Held that:- The Hon’ble High Court allowed the petition and directed the petitioner shall be released on bail, provided he furnishes a personal bond in the sum of Rs. 1,00,000/- together with two sureties in the sum of Rs. 50,000/-.