Thane: The Thane branch of the Central Goods and Services Tax (CGST) busted a fake input tax credit racket worth Rs 22 crore and arrested a father-son duo in the case. Based on inputs from Central Intelligence Unit, Mumbai CGST Zone and Thane Central GST Commissionerate Arrested.
As per a press release, the father-son duo are the owners of two different firms – Shah Enterprises And American Enterprise – Located in Kandivali West, Mumbai. Both the firms are registered with GST for trading in ferrous waste and scrap, and were indulging in fraudulent availing and passing of Input Tax Credit (ITC) of Rs 11.80 crore and Rs 10.23 crore, respectively, without receiving goods or services. Violation of provisions of CGST Act
The release further stated that both the companies were availing fake ITC from fraudulently created entities. Hence, both were arrested under the provision of CGST Act 2017 and produced before Hon’ble Chief Metropolitan Magistrate Esplanade, Mumbai. He has been sent to judicial custody for 14 days. news network
As per a press release, the father-son duo are the owners of two different firms – Shah Enterprises And American Enterprise – Located in Kandivali West, Mumbai. Both the firms are registered with GST for trading in ferrous waste and scrap, and were indulging in fraudulent availing and passing of Input Tax Credit (ITC) of Rs 11.80 crore and Rs 10.23 crore, respectively, without receiving goods or services. Violation of provisions of CGST Act
The release further stated that both the companies were availing fake ITC from fraudulently created entities. Hence, both were arrested under the provision of CGST Act 2017 and produced before Hon’ble Chief Metropolitan Magistrate Esplanade, Mumbai. He has been sent to judicial custody for 14 days. news network
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