Quick Summary
In a significant crackdown on tax fraud, the anti-evasion team of Thane Central Excise CGST Commissionerate Mumbai Zone uncovered a massive fake Input Tax Credit (ITC) racket worth ₹48 crores. Hitesh Shantilal Vasa, the mastermind behind the scam, was arrested by authorities on Thursday. Vasa reportedly registered 22 shell companies by misusing KYC documents, such as Aadhaar and PAN cards, belonging to his relatives and other individuals. These shell companies were used to conduct proxy and du
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The fake Input Tax Credit (ITC) fraud uncovered in Mumbai was worth ₹48 crores.
Hitesh Shantilal Vasa, identified as the mastermind behind the scam, was arrested.
He reportedly registered 22 shell companies using misused KYC documents and conducted proxy transactions to fraudulently avail and pass on fake ITC benefits.
Hitesh Shantilal Vasa was arrested under the CGST Act, 2017, and remanded to 14-day judicial custody.
No, authorities are continuing their investigation to identify any other individuals involved in the fraud.
CAclubindia
