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A businessman has been arrested from Ahmedabad for allegedly availing fake input tax credit (ITC) to the tune of Rs 7.22 crore after the Central Goods and Services Tax commissionerate unearthed evasion of Rs 36.95 crore in GST involving ten non-existent firms, the CGST commissionerate here said on Wednesday. The preventive wing of CGST Ahmedabad south commissionerate found a web of non-existent firms involved in passing of fake input tax credit by routing the invoices through a series of
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FAQ :
A total of Rs 36.95 crore in GST evasion was unearthed.
Ten fictitious firms were involved in the scheme.
Vihol Viramji, the proprietor of Ashapura Traders, was arrested.
The fake input tax credit involved amounted to Rs 7.22 crore, with a taxable value of Rs 205.27 crore for the ten firms.
Input tax credit generally means claiming the credit of the GST paid on the purchase of goods and services used for business purposes.
The CGST commissionerate is conducting an all-India special drive to detect suspicious/fake GST registrations and is actively monitoring syndicates involved in fraudulent availment of input tax credit.
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