Credit fraud

GST authorities arrest one in input tax credit fraud worth $ 91 from Thane


GST authorities arrested suspected Thane mastermind in valued input tax fraud ??90.68 crore on Saturday. The accused was remanded in custody until November 5.

“In a major campaign launched against fraudsters who use and use bogus Input Tax (ITC) credits, the Thane Central GST Commissionerate, Mumbai CGST Zone has arrested a mastermind who had started an M / s business. Doshi Marketing and operated from Bhayander West. He engaged in the fraudulent use and use of the input tax credit up to ??90.68 crore without receiving the goods or services in violation of the provisions of the CGST 2017 law, “said a statement from the Ministry of Finance.

The company traded in asbestos, cotton thread, sewing thread, etc. ??503.80 crore, the mentioned statement.

It was a paper-only transaction with no actual delivery of goods and no deposit of electronic waybills, he added.

“The accused mastermind was arrested under the provisions of the CGST law of 2017 and was remanded in custody until November 5 by the First Class Court of Judicial Magistrates in Thane,” the government statement read.

In two other separate cases, Trimurti Gems and Nikita Trading & Co, operating in the Bhayander region, were also implicated in the fraudulent use and transfer of the input tax credit in the amount of ??292 crores. These companies were not active and their registrations had been canceled.

Cases have been brought against the defendants and efforts are being made to nab the brains in those cases as well, the ministry said.

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