CGST Mumbai Busted Fake GST ITC Racket Worth Rs.10.68 Crore; One Businessman Arrested
CGST Mumbai Busted Fake GST ITC Racket Worth Rs.10.68 Crore; One Businessman Arrested Officers from the Navi Mumbai CGST Commissionerate of the Mumba…
Reetu
Feb 3, 2022CGST Mumbai Busted Fake GST ITC Racket Worth Rs.10.68 Crore; One Businessman Arrested
Officers from the Navi Mumbai CGST Commissionerate of the Mumbai Zone discovered a fraudulent GST Input Tax Credit racket worth Rs.10.68 crores. Officers have arrested a businessman who is the Proprietor of M/s Navnit Steel on 2nd Feb 2022 in Mumbai, after receiving a tip from the Central Intelligence Unit, Mumbai CGST Zone. It was defrauding the government by claiming and passing Rs.10.68 crores in Input Tax Credit (ITC) through an intricate web of bogus invoices totaling Rs.60 crore; in clear violation of the CGST Act 2017.
https://twitter.com/GSTnavimumbai/status/1489191092285161476?s=20&t=yWgp1BWbph1x4-5XO1FhGA
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Reetu
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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.
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