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Maharashtra State Tax Department arrests Mira Road man for Rs 8.43 cr tax scam
Updated On: 10 November, 2025 07:41 AM IST | Mumbai | Anish Patil
Mira Road man held for floating ghost firm to pass off fake GST credits for allegedly generating and passing on fake Input Tax Credit worth Rs 8.43 crore
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The alleged transactions were carried out through bogus invoices and electronic entries, without any actual movement of goods or stock. Representation pic/istock
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The Maharashtra State Tax Department (Thane Zone) has arrested a Mira Road resident, Srikanth Vaidyanath, for allegedly generating and passing on fake Input Tax Credit (ITC) worth Rs 8.43 crore through a firm that investigators claim existed only on paper. The arrest was made by the State Tax Investigation Branch, Bhayandar.
Officials said Srikanth was listed as the proprietor of M/s Srikanth Enterprises, a firm suspected to be a shell entity. When officers visited its declared business address — C-118, Mira Darshan Complex, MTNL Road, Jangid Circle — they reportedly found no sign of commercial activity. The premises allegedly lacked basic business documentation, such as ledger books, invoices, stock registers, or inward–outward records, raising suspicion that the firm was created purely for bogus transactions.
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