Two firms had cheated on tax by issuing fake invoices and transferring input tax credit (ITC) as per a probe conducted by the GST department, after which its owners were held
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Two people were arrested for alleged irregularities to the tune of nearly Rs 200 crore in connection with Goods and Services Tax payments, an official said on Monday.
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Two firms had cheated on tax by issuing fake invoices and transferring input tax credit (ITC) as per a probe conducted by the GST department, after which its owners were held, he said.
In both cases, by issuing fake invoices of Rs 197 crore without supply of goods and transferring ITC of Rs 29 crore, fake deduction of Rs 29 crore has been made available to the recipients, which was a violation of Maharashtra Goods and Services Tax Act, the official informed.
Both the accused have been remanded in judicial custody.
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