The owner of a steel company in Maharashtra's Thane district has been arrested for allegedly availing input tax credit using fake invoices to the tune of Rs 60 crore, an official said on Thursday.
The Goods and Services Tax (GST) Commissionerate in Navi Mumbai busted a fake ITC racket of Rs 10.68 crore and arrested the proprietor of Navnit Steels on Wednesday, the official said.
The firm had allegedly availed and utilised ITC on bogus invoices of Rs 60 crore, he said.
The firm dealt in raw materials and finished goods of aluminium and steel. However, the investigation revealed that the owner had availed and passed on fake ITC from various bogus firms, the official said.
The accused has been arrested under relevant provisions of the Central Goods and Services Act, 2017 and was produced before a magistrate on Thursday, he said.
As a part of an anti-evasion drive, the Navi Mumbai Commissionerate has detected tax evasion of Rs 425 crore, recovered Rs 20 crore and arrested 11 persons recently, a release stated.
