Pretend Enter Tax Credit score Racket Price Rs 13 Crore Busted In Maharashtra
Pretend Enter Tax Credit score Racket: CGST mentioned the accused has been arrested. (Representational)
Raigad (Maharashtra):
A crew of CGST Commissionerate, Raigad, Mumbai Zone, busted a pretend GST enter tax credit score (ITC) racket and arrested the owner of a Kalamboli-based company named Zaid Enterprises on Saturday.
The company used to be engaged in availing and passing on pretend GST enter tax credit score of Rs 13 crore, via the use of bogus invoices of Rs 70 crore.
In accordance with a tip-off from the Central Intelligence Unit (CIU) of CGST Mumbai zone, a crew from Anti-Evasion Wing of CGST Commissionerate Raigad initiated an investigation, which printed that Zaid Enterprises had availed pretend ITC at the foundation of bogus invoices issued via greater than 10 non-existing corporations and handed this pretend ITC to different corporations, knowledgeable Neeraj Kansal, Commissioner, CGST and C.EX, Raigad.
“The owner of the company had no longer been running from the Predominant place of work declared within the GST portal however as an alternative used to be running at the transfer. He used to be traced and after a 15 km chase, apprehended from close to a petroleum station in Navi Mumbai,” mentioned the CGST.
The accused has been arrested on March four underneath Phase 69 of the Central Items and Services and products Act, 2017 for the committal of offences underneath Phase 132 of the mentioned Act. He used to be produced earlier than the Judicial Justice of the Peace, Panvel, during which he has been despatched to judicial custody for 14 days.
In accordance with the previous pattern research and knowledge analytics gear, officials were conserving an eye fixed at the selection of such pretend entities which were mushrooming and running from a small locality in Taloja, Navi Mumbai. They’d been taking GST registrations in keeping with cast or stolen identities or for the only goal of producing, availing, using and passing on of pretend ITC.
CGST Raigad Commissionerate has detected tax evasion of just about Rs 700 crore and recovered Rs 405 crore and arrested 9 individuals, within the monetary yr 2021-22, knowledgeable the CGST.
(Apart from for the headline, this tale has no longer been edited via TTN body of workers and is revealed from a syndicated feed.)
