CGST finds Input Tax Credit fraud of Rs 81 cr.

CGST finds Input Tax Credit fraud of Rs 81 cr; Navi Mumbai firm director held

22/02/2022
Thane, CGST Mumbai Zone has arrested a director of a Navi Mumbai-based firm who allegedly availed and passed input tax credit of Rs 81 crore by using fake invoices of Rs 479 crore, an official said on Monday.Acting on intelligence inputs received by deploying data analytics tools, searches were conducted at various locations, which found that Fantasia Trade Pvt Ltd was allegedly under section of the Central Goods and Services Tax Act, 2017, a CGST release said. was involved in irregularities under 132.

The director of the firm was arrested on February 18 and sent to judicial custody for 14 days.The CGST Mumbai zone, under a special drive, registered over 730 cases of tax evasion, detected tax evasion of Rs 6,380 crore, recovered around Rs 700 crore and recovered 56 persons in the last six months

Team Edu-Visor