Mumbai Crime: Man arrested for issuing fake GST invoice worth Rs 60.77 crore

Accused Pranav Shankarlal Harsh. Pic courtesy/ Diwakar Sharma

A man was arrested by the Anti-Evasion wing of the Central Goods and Services Tax (CGST), Thane on Wednesday, as his firm was indulged in issuance of fake invoices worth Rs 60.77 crore and availing income tax credit of Rs 10.93 crore.

The accused was identified as Pranav Shankarlal Harsh, the proprietor of Shree Steels.

During interrogation, Harsh admitted that the firm had availed input tax credit on invoices issued by non-existent firms and without receiving any goods and services.

Harsh further revealed that the suppliers were told to arrange cash and after keeping their margin of 8-10 per cent, the payback was made to his firm.

Harsh was presented in court and remanded to judicial custody till February 25.