CGST arrests proprietor for illegally availing fake input tax credit of Rs 21 cr

Mumbai , November16, 2022

The Central Goods and Services Tax, Navi Mumbai, officials have arrested the proprietor of Storage Miles and Catbus for illegally availing fake Input Tax Credit (ITC) of Rs 20.96 crore on bogus invoices of Rs 177 crore. He has been remanded to judicial custody for 14 days by the magistrate on Wednesday.

A team of officers of anti-evasion, CGST and Commissioner, Navi Mumbai, conducted enquiry against the firm. The firm had availed and utilised ITC of Rs 10.48 crore which has been received from bogus/fake entities on the strength of bogus invoices received and passed on the same. The total amount of bogus invoices involved is to the tune of Rs 117 crore, without an actual supply of goods and services.

The above accused has been arrested under Section 69 (1) of the Central Goods and Services Act, 2017, for committal of offences under Section 132 (1)(b) and (c) of the said Act and was produced before the judicial magistrate, Vashi, at Belapur on Wednesday. (ANI)

[The Print]