CGST finds Input Tax Credit fraud of Rs 81 cr; Navi Mumbai firm director held

Thane, The CGST Mumbai Zone has arrested the director of a Navi Mumbai-based firm that allegedly availed and passed on Input Tax Credit of Rs 81 crore using bogus invoices to the tune of Rs 479 crore, an official said on Monday. A CGST release said searches were conducted at various locations acting upon intelligence garnered by deploying data analytics tools, which found that Fantasia Trade Pvt Limited was allegedly indulging in irregularities under section 132 of the Central Goods and Services Tax Act, 2017.

The director of the firm was arrested on February 18 and remanded in judicial custody for 14 days, the release stated.

The release said CGST Mumbai Zone had, under a special drive, booked more than 730 cases of tax evasion, detected tax evasion of Rs 6,380 crore, recovered around Rs 700 crore and arrested 56 persons in the last six months.