GST Officials Arrested Businessman For Using Fake 60 Crore Bills
NDTV
A fake ITC racket of Rs 10.68 crore busted and arrested the proprietor of Navnit Steels on Wednesday, the official said.
The owner of a steel company in Maharashtra's Thane district has been arrested for allegedly availing input tax credit using fake invoices to the tune of Rs 60 crore, an official said on Thursday.
The Goods and Services Tax (GST) Commissionerate in Navi Mumbai busted a fake ITC racket of Rs 10.68 crore and arrested the proprietor of Navnit Steels on Wednesday, the official said.
The firm had allegedly availed and utilised ITC on bogus invoices of Rs 60 crore, he said.
The firm dealt in raw materials and finished goods of aluminium and steel. However, the investigation revealed that the owner had availed and passed on fake ITC from various bogus firms, the official said.
