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CGST Navi Mumbai Commissionerate busts fake ITC racket of Rs. 10.68 Crore, arrests proprietor of a steel firm CGST Commissionerate, Navi Mumbai had busted a fake ITC racket of Rs. 10.68 Crores and arrested the proprietor of M/s. Navnit Steels (GSTIN: 27AEXPD3871K1ZV) on Wednesday (February 2, 202
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FAQ :
The fake Input Tax Credit (ITC) racket busted by CGST Navi Mumbai Commissionerate was valued at £10.68 crore.
The proprietor of M/s. Navnit Steels was arrested in connection with the fake ITC racket.
M/s. Navnit Steels is accused of availing and utilising fraudulent Input Tax Credit (ITC) on bogus invoices, thereby defrauding the government exchequer.
The accused was arrested under Section 69 (1) of the Central Goods and Services Act, 2017, for offences under Section 132 (1) (b) & (c) of the said Act.
The CGST Mumbai Zone's anti-evasion drive has detected £5500 crore in tax evasion, recovered £630 crore, and arrested 48 individuals in the last five months.
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