Pune: GST Intelligence sleuths arrest three businessmen fraudulently availing input tax credit worth Rs 27.56 crore
Pune: Three city-based businessmen were arrested by sleuths of GST Intelligence unit (Pune Zone) on charges of fraudulently availing input tax credit worth Rs 27.56 crore by generating fake invoice on the taxable value of more than Rs 180 crore.
The arrested suspects were identified as Kunal Mohan Dass (35), owner of India Steel Trading Corporation and Simplex Steel Trading Corporation in Pimpri, Anil Yadav (35), owner of Mahalaxmi Steel at Bhosari and Chirag Bansal, Director of Bhavya Enterprises in Wakad. The three suspects were produced in court on Thursday (November 26) and remanded to judicial custody. The Chief Judicial Magistrate rejected the bail applications of the trio.
According to GST Intelligence unit officers, the suspects used to generate fake invoices under the names of various companies. The GST amount mentioned on these fake invoices was passed on to the other companies by the firms. The suspects used to avail fraudulent input tax credit on the basis of the fake invoices without the movement and receipt or supply of any goods and services.
Jerry Pereira, GST Inspector in the report submitted to the court has mentioned that certain evidence is yet to be collected against the suspects. Recipients of the fake invoices who have availed input tax credit without receipt of goods and services are also to be examined.