Maharashtra: CGST busts fake invoices, input tax credit racket; one held

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The Central Goods and Services Tax Commissionerate in Thane district have busted a racket involving issuance of fake invoices amounting to Rs 132 crore and availing of input tax credit (ITC) of Rs 23 crore, an official told the PTI on Sunday.

One suspect was arrested in connection with this case on Friday, he said.

The matter came to light after the anti-evasion wing of the CGST Bhiwandi Commsissionerate probed six firms and then raided the residence of the suspect, who was wanted in eight other cases of GST fraud, the official added.

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"He created several fake firms and generated bogus invoices of Rs 132 crore through them. He then availed or passed ITC of Rs 23.16 crore fraudulently. He has been remanded in custody till September 23 for further probe," the official said, as per the PTI.

(with PTI inputs)