A businessman has been arrested from Ahmedabad for allegedly availing fake input tax credit (ITC) to the tune of Rs 7.22 crore after the Central Goods and Services Tax commissionerate unearthed evasion of Rs 36.95 crore in GST involving ten non-existent firms.
The preventive wing of CGST Ahmedabad south commissionerate found “a web of non-existent firms involved in passing of fake input tax credit by routing the invoices through a series of firms”.
During investigation, GST (Goods and Services Tax) evasion of Rs 36.95 crore having a taxable value of Rs 205.27 crore involving ten fictitious firms was unearthed, the CGST commissionerate of Ahmedabad south said in a press release.