• Notification Date: 21-11-2022
• Notification No: N/A

CGST Officials Arrest Private Firm Owner for Tax Fraud

The officials of the Central Goods and Services Tax (CGST) have arrested a private firm owner in Navi Mumbai. The individual was allegedly involved in availing and passing on fake input tax credit (ITC). According to the report of an official, the amount of input tax credit that was availed by him was nearly Rs.20.96 crore.  

On Wednesday, the CGST officials have arrested the proprietor of two private companies. The companies owned by him are – Storage Miles and Catbus. The accomplice has also been arrested by the officials based on his irregularities.  

These two firms have allegedly availed and utilized input tax credit worth Rs.10.48 crore. The input tax credit has been availed by the owner using fake invoices and from fake entities. Without the actual supply of goods or services, these companies have acquired and passed on fake invoices worth Rs.117 crore.  

The accused private firm owner has been arrested by the officials under relevant provisions under the Central Goods and Services Tax, 2017.