Quick Summary
The Central Goods and Services Tax (CGST) Palghar Commissionerate has arrested Ritesh Padamchand Burad (51), a Chartered Accountant from Bhayandar, for allegedly availing and passing on fake Input Tax Credit (ITC) worth Rs 11.72 crore through M/s Flutron Build Infra Pvt. Ltd. and a network of linke
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FAQ :
Ritesh Padamchand Burad, a 51-year-old Chartered Accountant from Bhayandar, has been arrested by the CGST Palghar Commissionerate.
The alleged fraud involves fake Input Tax Credit (ITC) worth Rs 11.72 crore.
The fraud was allegedly carried out by availing and passing on fake Input Tax Credit (ITC) on the basis of fake invoices, without any actual supply of goods or services, through M/s Flutron Build & Infra Pvt. Ltd. and linked entities.
Investigators allege that the Chartered Accountant controlled invoicing and bank transactions for Flutron and associated firms, coordinated with directors, and charged a commission for facilitating bogus credit claims. He is also linked to paper companies used to inflate turnover.
The fraudulent claims of Rs 11.72 crore ITC through GSTR-3B filings reportedly span FY 2020-21 to 2025-26.
The arrested Chartered Accountant has been produced before a local court and remanded to judicial custody.
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