Mumbai: An official with the CGST Mumbai Zone said on Monday that the director of a Navi Mumbai-based firm was arrested for allegedly obtaining and passing on an Input Tax Credit of Rs 81 crore by using fake invoices totaling Rs 479 crore.
According to a CGST press release, searches were conducted at various locations based on intelligence gathered through the use of data analytics tools, which revealed that Fantasia Trade Pvt Limited was allegedly engaged in tax evasion under section 132 of the Central Goods and Services Tax Act, 2017.
According to the announcement, the firm's director was arrested on February 18 and held in judicial detention for 14 days.
In the last six months, the CGST Mumbai Zone has booked more than 730 cases of tax evasion, detected tax evasion worth Rs 6,380 crore, recovered around Rs 700 crore, and arrested 56 people, according to the statement.
All of the transactions were authentic, according to Advocate Prasannan Namboodiri, who represents Fantasia Trade Private Limited.
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