The Central Goods and Services Tax (CGST) Commissionerate, Navi Mumbai busted a fake ITC racket of about Rs 21 crores and arrested the proprietor of Shree Ram Enterprise.

According to the CGST Commissionerate, the firm was engaged in availing, utilising, and passing on a fraudulent Input Tax Credit (ITC) on the bogus invoices of around Rs 100 crore thereby defrauding the government exchequer. CGST commissioner, Prabhat Kumar said that a team of officers of Anti-Evasion, CGST, Navi Mumbai conducted an inquiry against the aforesaid firm.