09 February,2022 05:33 PM IST | Thane | PTI
Photo for representational purpose. Pic/ iStock
The Central Goods and Services Tax (CGST) authorities in Navi Mumbai have busted a fake Input Tax Credit (ITC) racket of Rs 10.26 crore and arrested a trader, an official said on Wednesday.
The CGST officials arrested the owner of Al-Marwah Traders on Tuesday for allegedly availing, utilising and passing on fraudulent ITC on bogus invoices of over Rs 60 crore, the official said.
A team of officers from the anti-evasion unit conducted an inquiry against the firm, which was involved in trading scrap of ferrous, aluminium, copper and other metals, he said.
A probe revealed that the accused had availed and passed on fake ITC from various bogus firms, the official said.
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The accused has been arrested under the Central Goods and Services Act, 2017 and has been remanded to judicial custody for 14 days, he added.
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