Maharashtra businessman held for availing Input tax credit of over Rs 40 crore
India Today
An operator of three firms has been arrested by Maharashtra GST team for availing an Input Tax Credit (ITC) of Rs 41.67 crores using fake bills.
The Maharashtra Goods and Service Tax (GST) Department on Thursday arrested an operator of three firms for availing an Input Tax Credit (ITC) of Rs 41.67 crores using fake bills of Rs 231.49 crores.
The state GST department arrested a man identified as Brijesh Vanitlal Shah (48), an operator of Om Impex and two other firms under the special investigation operation carried out against tax-evading firms.
An investigation was conducted at the place of business of Om Impex. During preliminary investigation, it was found that Om Impex and two other firms, Brijeshwari Enterprises and Chetna Metals LLP have availed an Input Tax Credit (ITC) of Rs 41.67 crores from suspected non-genuine tax payers by means of fake bills worth Rs 231.49 crores.
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A metropolitan Magistrate court has remanded Brijesh Vanitlal Shah to 14 days judicial custody. The operation was conducted under the guidance of Rahul Dwivedi (IAS), Joint Commissioner of State Tax, Investigation, Mumbai.
With this, the State GST department has made 30 arrests in the current financial year. "Given the comprehensive analytical tools and the inter-departmental coordination state GST has been deploying, this number is further going to increase, thereby giving a strong signal to the fraudsters and strengthening its drive against such people," the department said in a statement.
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