Man arrested in Rs 147 cr GST invoice scam
This has resulted in the detection of Rs 147 crore input tax credit (ITC) but no recovery has been made. The total taxable value is Rs 817 crore. The ineligible ITC within the fictitious companies was created for the purpose of inflating turnover to avail bank loans. A CGST official said, “The companies were doing the illegal transactions till March 2022. The accused has been remanded to judicial custody till August 31 by a Belapur court.” Few more arrests are likely to be made in the next few days and hence the name of the accused has been withheld.
