CGST officials bust fake input tax credit racket of Rs 12 crore, one arrested
India Today
A team of CGST Commissionerate, Raigad, Mumbai Zone, busted a fake input tax credit (ITC) racket and arrested the proprietor of a Kalamboli-based firm.
A team of CGST Commissionerate, Raigad, Mumbai Zone, busted a fake input tax credit (ITC) racket and arrested the proprietor of a Kalamboli-based firm named Ashok Metal Scrap.
The firm was engaged in availing and passing on fake GST input tax credit of Rs 12 crore, by using bogus invoices of more than Rs 64 crore.
Based on a tip-off from the Central Intelligence Unit (CIU) of CGST Mumbai zone, a team from the anti-evasion wing initiated an investigation, which revealed that the firm had availed fake ITC on the basis of bogus invoices issued by more than 20 non-existing firms and passed on to other firms.
The proprietor of the firm evaded the investigation proceedings and was absconding since October 2021. He was traced after a continuous vigil at various locations in Mumbai and Rajasthan.
The accused was arrested on February 17 under Section 69 of the Central Goods and Services Act, 2017. He was produced before the Judicial Magistrate and was sent to judicial custody for 14 days.
This case is a part of a special anti-evasion drive launched by CGST, Mumbai Zone, against fraudsters and tax evaders. Raigad Commissionerate has detected tax evasion of Rs 675 crore. recovered Rs 403 crore and arrested 8 people in the financial year 2021-22.
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