A father and son duo, proprietors of two separate companies M/s Shah Enterprises and M/s U.S. Enterprises positioned at Kandivali West, Mumbai, had been arrested
A faux Enter Tax Credit score racket involving GST of ₹22 crores was busted by the workplace of Thane CGST Commissionerate of Mumbai zone.
Performing on a tip-off from the Central Intelligence Unit, Mumbai CGST Zone, a father and son duo, proprietors of two separate companies M/s Shah Enterprises and M/s U.S. Enterprises positioned at Kandivali West, Mumbai, had been arrested.
Each the companies are registered with GST for buying and selling in ferrous waste and scrap and had been fraudulently availing themselves of ITC to the tune of ₹11.80 crores and ₹10.23 crores respectively with out receiving items or providers, in violation of the provisions of CGST Act 2017. Each these companies had been availing themselves of pretend ITC from faux entities and passing them on to different entities of this community.
The 2 had been arrested below Part 69 of CGST Act 2017. They had been produced earlier than the Chief Metropolitan Justice of the Peace Esplanade, Mumbai, on Tuesday and remanded in judicial custody for 14 days.
The operation was a part of large-scale train launched by the CGST, Mumbai Zone, to stamp out faux ITC community that had been inflicting unhealthy competitors with trustworthy taxpayers and defrauding the federal government exchequer of its rightful taxes. The division will intensify the drive towards fraudsters and tax evaders within the days to return
