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Thane CGST busts Rs 22-crore fake input tax credit racket, two arrested

Both were arrested under CGST Act, 2017, and produced before the Chief Metropolitan Magistrate Esplanade, Mumbai on Tuesday. They were remanded to 14 days in judicial custody.

By: Express News Service | Mumbai |
Updated: January 5, 2022 8:16:18 am
Police said initial probe showed that the gang used to kidnap or steal infants from Delhi and sell them for Rs 3-4 lakh in neighbouring states. (Representational)

The Thane CGST has busted a Rs 22-crore fake input tax credit racket. Based on intelligence of CIU, Mumbai CGST Zone, the Thane Central GST Commissionerate has arrested a father and a son, who are the proprietors of two firms – M/s Shah Enterprises and M/s U.S. Enterprises – located at Kandivali West in Mumbai.

Both the firms are registered with GST for trading in ferrous waste and scrap among others and were indulging in fraudulent availment and passing of ITC of Rs 11.8 crore and Rs 10.23 crore, respectively, without receiving the goods or services in violation of the CGST Act. Both these firms were availing fake ITC from the fraudulently created entities.

Both were arrested under CGST Act, 2017, and produced before the Chief Metropolitan Magistrate Esplanade, Mumbai on Tuesday. They were remanded to 14 days in judicial custody.

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