Officers of CGST Mumbai South Commissionerate on Friday arrested a Director of Mahapuja Limited for allegedly availing and passing on of fake Input Tax Credit (ITC) of Rs 16.08 crore, using bogus invoices of Rs 570 crore.
He was produced before the court and was later remanded to judicial custody for 14 days.
On Thursday, CGST Commissionerate Mumbai East of Mumbai Zone had unearthed a fake ITC Network and arrested the Director of a Kurla based company for GST fraud.
An investigation was initiated against M/s Lakshin Metals Pvt. Ltd. which revealed that fake ITC of Rs 15.26 crore was availed and passed on without actual receipt or supply of goods, in gross violation of provisions of the CGST Act.
For this fraud, a web of around 15 entities was created and bogus invoices of more than Rs 84 crore were issued.