Mumbai: 3 held by CGST in Rs 78 cr ITC fraud

The arrested persons were produced before the court which remanded them to judicial custody till August 12

Staff ReporterUpdated: Sunday, August 07, 2022, 08:59 PM IST
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The Central Goods & Services Tax (CGST) Bhiwandi Commissionerate officials based upon a specific intelligence have busted a case of non-payment of GST and fraudulent availment of Input Tax Credit (ITC) amounting to Rs 78 crore against M/S A S Agri and Aqua LLP and have arrested three partners of the said firm on Sunday.

The arrested persons were produced before the court which remanded them to judicial custody till August 12.

According to the CGST officials, the said firm had not discharged the GST liability amounting to Rs 53 crore on advance payments amounting to Rs 292 crore received from the recipients of Work Contract Services for construction of poly houses, which is taxable under CGST Act. Further, the said firm had fraudulently availed ITC amounting to Rs 25 crore on the Work Contract Services for construction of immovable property, which is not available under the provisions of the CGST Act.

"This case is a part of the special drive launched by the CGST Mumbai Zone against the tax fraudsters and fake ITC networks. So far, CGST Bhiwandi Commissionerate has arrested 14 persons in last one year itself. CGST officers are using data analysis and network analysis tools to identify and trace the potential fraudsters. CGST officers will intensify this drive against the tax evaders in the coming days," said an official.

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