Tuesday, July 27, 2021

Four arrested for availing fictitious Input Tax Credit worth Rs 408.67 Cr

Directorate General of GST Intelligence in Mumbai has arrested four top officials of various private enterprises for allegedly availing fictitious Input Tax Credit worth 408.67 crore rupees.

The arrested persons are the Director of Rane Megastructure Private Limited, the Proprietor of ACS Hardware and Networking, the Director of Keshariya Metal Pvt. Ltd and its group of companies and the Managing Director of Shailaja Commercial Trade Frenzy Ltd.

They were arrested under Section 69 (1) of the Central Goods and Services Act, 2017, for committing offences under Section 132 (1) (b) and Section 132 (1) (c) of the Act. A local court has sent them to judicial custody till 24th of this month.

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