Navi Mumbai CGST department arrests firm owner for availing and passing on fake ITC
The tax authority said this fake ITC was claimed using bogus invoices of more than Rs 60 crore.
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A local court on Wednesday sent the accused to judicial custody for 14 days.The Navi Mumbai Central Goods and Services Tax (CGST) department has arrested the owner of city-based Al Marwah Traders for fraudulently availing and passing on input tax credit (ITC) of Rs 10.26 crore, said the tax department in a statement.
The tax authority said this fake ITC was claimed using bogus invoices of more than Rs 60 crore.
“As per the statement of the proprietor, the said firm is involved in trade of scrap of ferrous, aluminium, copper and other metals. However, the investigation revealed that the taxpayer has availed and passed on fake ITC from various non-existing/bogus firms. The accused has been arrested under Section 69 (1) of the Central Goods and Services Act, 2017 for offences under Section 132 (1) (b) &(c) of the said Act,” said the tax department.
A local court on Wednesday sent the accused to judicial custody for 14 days.
The department said the Navi Mumbai GST office has detected tax evasion of more than Rs 450 crore, recovered Rs 20 crore and arrested 12 persons in the last five months.
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