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Central Goods and Services Tax (CGST) Commissionerate, Mumbai zone, on Friday said it has busted a network involved in availing fake input tax credit benefits under goods and services tax.CGST Commissionerate, Belapur of CGST Mumbai Zone, said it has also arrested the proprietor of Amarnath Enterprises, Navi Mumbai for availing and passing on of fake Input Tax Credit (ITC) of Rs 26.28 crore by issuing bogus invoices to the tune of Rs 132.7 crores.Based on a tip-off received from the Central Intelligence Unit of CGST Mumbai Zone an investigation was initiated, which revealed that only invoices were issued and no supply of goods had taken place, CGST Commissionerate said in a statement.Evidence gathered during the investigation and confession of the proprietor indicated that an offence, as specified in Section 132 of the Central Goods and Services Tax Act, 2017, was being committed with full disregard to the statutory provisions, with an intention to defraud the Government of its due revenue.The proprietor of Amarnath Enterprises was arrested on 24th February 2022 and produced before the court on the same day, who has remanded him to judicial custody for 14 days.This case is a part of a special Anti-Evasion drive launched by CGST, Mumbai Zone against the fraudsters and tax evaders who are creating unhealthy competition for compliant taxpayers and defrauding the Government exchequer.Belapur Commissionerate has detected tax evasion of Rs 1138.59 crore and arrested 4 persons, in the financial year 2021-22 so far.The CGST department is using data analytics and network analysis tools to identify fake ITC networks and other tax evaders.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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National :Maharashtra: CGST officials bust fake input tax credit racket worth Rs 13 cr

A team of CGST Commissionerate, Raigad, Mumbai Zone, busted a fake GST input tax credit (ITC) racket and arrested the proprietor of a Kalamboli-based firm named Zaid Enterprises on Saturday. ...

Business :Tax officials bust network availing fake input tax credit benefits under GST

Central Goods and Services Tax (CGST) Commissionerate, Mumbai zone, on Friday said it has busted a network involved in availing fake input tax credit benefits under goods and services tax. ...