One arrested for availing fake input tax credit of Rs. 227 crore
Officials of the Goods and Services Tax and Central Excise Commissionerate, Puducherry, have arrested a person after discovering that he had availed himself of fake input tax credit to the tune of Rs.227 crore. He had passed on a substantial amount of the fake input tax credit to his own units in Tamil Nadu.
A press release from the Commissioner of GST and Central Excise, Milind R. Lanjewar, said a team of officials from the Enforcement and Compliance Management Section of the Commissionerate conducted searches at the residence and business premises of a person on Thursday based on information that he was involved in availing of and passing on fake input tax credit (ITC).
