A local court has sent the owner of the company to judicial custody for 14 days. The Navi Mumbai Central Good and Services Tax (CGST) office arrested the proprietor of a firm dealing in steel and aluminium for allegedly claiming input tax credit (ITC) of Rs 10.68 crore in violation of the norms.
According to a statement issued by the department, Navnit Steels availed and utilised the fraudulent ITC on bogus invoices of Rs 60 crore.
“A team of officers of the anti-evasion, CGST, Navi Mumbai conducted inquiry against the firm and found that the taxpayer has availed and passed on fake ITC from various non-existing/bogus firms,” said the tax department.
The proprietor of the firm has been arrested under Section 69 (1) of the Central Goods and Services Act, 2017 for committing offences under Section 132 (1) (b) & (c), said the tax authority.
A local court has sent the owner of the company to judicial custody for 14 days.
The Navi Mumbai CGST office has detected tax evasion of Rs 425 crore, recovered Rs 20 crore and arrested 11 persons in the last four months, the statement added.
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