Fake Input Tax Credit Racket Worth Rs 13 Crore Busted In Maharashtra
NDTV
Maharashtra: The firm was engaged in availing and passing on fake GST input tax credit of Rs 13 crore, by using bogus invoices of Rs 70 crore.
A team of CGST Commissionerate, Raigad, Mumbai Zone, busted a fake GST input tax credit (ITC) racket and arrested the proprietor of a Kalamboli-based firm named Zaid Enterprises on Saturday.
The firm was engaged in availing and passing on fake GST input tax credit of Rs 13 crore, by using bogus invoices of Rs 70 crore.
Based on a tip-off from the Central Intelligence Unit (CIU) of CGST Mumbai zone, a team from Anti-Evasion Wing of CGST Commissionerate Raigad initiated an investigation, which revealed that Zaid Enterprises had availed fake ITC on the basis of bogus invoices issued by more than 10 non-existing firms and passed this fake ITC to other firms, informed Neeraj Kansal, Commissioner, CGST and C.EX, Raigad.
"The proprietor of the firm had not been operating from the Principal place of business declared in the GST portal but instead was operating on the move. He was traced and after a 15 km chase, apprehended from near a petrol station in Navi Mumbai," said the CGST.
