Officers of the Central Goods & Services Tax (CGST) Mumbai Central have busted a fake Input Tax Credit (ITC) racket and have arrested the Proprietor of a private company for allegedly availing and utilizating ITC of Rs 32 crore by issuing bogus invoices of around Rs 212 crore.
According to the CGST officials, on receipt of specific information, Proprietor of M/s Rajesh Enterprises who is also handler of various other firms was allegedly found to be involved in activity of availing ITC fraudulently after which was placed under arrest.
The accused was produced before the court that has remanded him for judicial custody of 14 days.
