In three separate operations, the Central Goods & Services Tax (CGST) officials have arrested three persons for allegedly fraudulently availing Input Tax Credit (ITC) to the tune of crores of rupees.
According to the CGST officials, Navi Mumbai CGST has busted a fake ITC racket of Rs 19.84 crore and have arrested the Director of M/s Fortune Global Trade Private Limited on Wednesday. This Vikhroli based private limited company, which was dealing in trade of synthetic rubber, had allegedly engaged in availing and utilization of fake GST ITC on the basis of bogus invoices of Rs 110 crore. Acting on a tip off, CGST had conducted an enquiry against the said company.
The said company had availed fake ITC from eight non-existing entities and had passed on the same to various entities, without actual supply of goods or services. The accused was produced before the Vashi court on Thursday which remanded the accused to judicial custody for 14 days.
In another case, Thane Rural CGST arrested a GST practitioner for allegedly indulging in fake ITC fraud of Rs 176 crore by a Thane based firm M/s Motec Traders. This is the third arrest in this case.
The Palghar CGST have arrested a Director of Dharamraj Metal Corporation for availing and passing fake ITC of Rs 12.62 crores on bogus invoices of Rs 70 crores on Thursday. The accused has been sent to JC for 14 days by the court.
