Arrests Made in Rs. 9 Crore Input Tax Credit Fraud
The CGST & Central Excise Raigad Commissionerate has arrested two individuals for fraudulently availing Input Tax Credit (ITC) of over Rs. 9 crore through fictitious firms in New Panvel, Mumbai. The accused created shell companies and issued invoices without actual supply of goods or services. The investigation revealed that the directors of the involved firm, Jaisha Metals Private Limited, were actively engaged in this fraudulent activity. Both individuals have been remanded to judicial custody as further investigations continue to identify other participants in the scheme.
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