Ahmedabad: A local firm’s promoter has been arrested for allegedly evading Goods and Services Tax (GST) worth Rs 88 crore by raising fraudulent invoices, officials said. Sandeep Agrawal, Chief Managing Director of M/s Kushal Ltd, was arrested on Monday for availing wrong input tax credit of Rs 88.78 crore on bogus invoices worth Rs 672.32 crore without receipt of actual goods, according to the statement.
The preventive wing of central GST Ahmedabad-South Commissionerate here busted a racket of issuance of fake invoices wherein huge amount of ineligible input tax credit was fraudulently availed and utilised to evade GST payment, a statement said.