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.