One arrested for availing of fake GST input tax credit

By: Admin
June 08, 2024
Categories: GST Recent News
4 Min Read

Officials of the Directorate General of GST Intelligence, Coimbatore, have arrested a person on detecting that he had availed of fake input tax credit to the tune of ₹37.2 crore. He had passed on fake input tax credit worth ₹65.42 crore.

A press release from the directorate said the officials conducted searches at the residence and business premises of a person on Wednesday based on intelligence that he was involved in availing of and passing on fake input tax credit. They seized PAN card of 17 persons and Aadhaar card of 20 persons, weigh bridge printer, bank pass book of 21 accounts, cheque book of 41 accounts, seals of 16 firms, mobile phones, SIM cards, and debit cards.

It was found that he issued fake invoices to four companies he owned and operated for supply of bazar scrap to TMT bar manufacturers. These companies availed of and used fake input tax credit worth ₹32.6 crore. Investigations in this case continued, the press release said.

Source from: https://www.thehindu.com/news/cities/Coimbatore/one-arrested-for-availing-of-fake-gst-input-tax-credit/article68264501.ece