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Mumbai: Woman arrested for ‘Rs 9.95 crore input tax credit fraud’

A criminal case was registered against the accused, Nisha Munjal, under Section 69 of the CGST Act of 2017. She was arrested from her residence in Kharghar and produced before a magistrate court Wednesday, which sent her to judicial custody for 14 days.

By: Express News Service | Mumbai |
September 16, 2021 10:24:59 pm
Nisha Munjal was arrested from her residence in Kharghar and produced before a magistrate court Wednesday, which sent her to judicial custody for 14 days.

The Central Goods and Services Tax (CGST), Bhiwandi commissionerate, has arrested a 49-year-old woman from Kharghar Wednesday for allegedly claiming Input Tax Credit (ITC) of Rs 9.95 crore, based on fake receipts received from fictitious firms.

A criminal case was registered against the accused, Nisha Munjal, under Section 69 of the CGST Act of 2017. She was arrested from her residence in Kharghar and produced before a magistrate court Wednesday, which sent her to judicial custody for 14 days.

Munjal was running four firms, Dixa Fabrics, Ekta Fashions, Ridgewood industries and Pretty Women Fashion, according to sources. She was a proprietor in two of the firms and director in the other two firms. Investigations showed that all the four firms are allegedly not operational in their registered premises at Bhiwandi.

The four firms allegedly availed the ineligible ITC against fake invoices (where no supplies from any suppliers have been physically received) and passed on the same to other buyers who could have used it to claim a bigger ITC. “The fraudulent activity is causing a severe loss to the exchequer.

Further investigation to identify other scamsters involved in the tax fraud is under progress,” said Sumit Kumar, commissioner, CGST and Central Excise, Bhiwandi.

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