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Wednesday, May 25, 2022

Mumbai: Accountant held for issuing bogus bills worth over Rs 1,000 crore

🔴 The accused also availed and passed off fake ITC of Rs 181 crore without movement of any goods, officials said.

By: Express News Service | Mumbai |
January 27, 2022 11:33:52 am
tax fraudThe tax authority found that Mumbai-based Nithilan Enterprises run by a 27-year-old GST accountant issued the bogus bills and availed and passed off fake ITC without movement of any goods. (Representative Image)

The Mumbai unit of the Central Goods and Services Tax (CGST) arrested an accountant for allegedly issuing bogus bills of more than Rs 1,000 crore and allegedly committing Input Tax Credit (ITC) fraud of Rs 181 crore.

The tax authority found that Mumbai-based Nithilan Enterprises run by a 27-year-old GST accountant issued the bogus bills and availed and passed off fake ITC without movement of any goods.

“It is suspected that he (accountant) is a part of a bigger network which lures innocent people to obtain GST registrations and then steals the identity. This stolen identity is used for generating, availing and passing on of fake ITCs without actual supply or receipt of goods or services. All efforts are being made to identify and nab the kingpin and other members and beneficiaries of this network,” said the GST department in a statement.

The accountant was arrested under Section 69 of the CGST Act, 2017 for violations punishable under Section 132 of the CGST Act, 2017 said the tax authority. A local court has remanded him to judicial custody till February 8.

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The GST department added that its Palghar office has so far detected tax evasion of Rs 460 crore, recovered Rs 12 crore and arrested two persons in separate cases in the last few months.

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