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Wednesday, December 08, 2021

Man commits GST fraud of Rs 90 crore, arrested

The accused allegedly indulged in fraudulent utilization of input tax credit to the tune of Rs 90.68 crore without receiving the goods or services in violation of the provisions of CGST Act 2017.

By: Express News Service | Mumbai |
Updated: October 24, 2021 11:32:12 am
The accused was remanded to judicial custody till November 5 by a Thane court.

In a major drive initiated against fraudsters availing and utilizing fake input tax credit, the Thane Central GST Commissionerate arrested a mastermind, who had opened a company M/s Doshi Marketing and was operating from Bhayander West.

The accused allegedly indulged in fraudulent utilization of input tax credit to the tune of Rs 90.68 crore without receiving the goods or services in violation of the provisions of CGST Act 2017.

An official said that the firm was dealing in trading of asbestos, cotton yarn, sewing thread etc and had fraudulently taken credit of input tax showing the value of goods amounting to Rs 503.80 crore. This was a ‘paper transaction’ only without actual supply of goods and without the filing of e-way bills.

The accused was remanded to judicial custody till November 5 by a Thane court.

Meanwhile, in separate cases, two more companies, allegedly involved in input tax credit fraud amounting to Rs 292 crore, have also been booked.

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