Monday, 27 March, 2023
HomeEconomyCGST arrests proprietor for illegally availing fake input tax credit of Rs...

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

Text Size:

Mumbai (Maharashtra) [India], November 16 (ANI): 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)

This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.

Subscribe to our channels on YouTube & Telegram

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

Most Popular