News > GST officials bust fake input tax credit racket of ₹22 crore in Maharashtra

GST officials bust fake input tax credit racket of ₹22 crore in Maharashtra

LiveMint | 05/01/2022 04:00 PM | Click to read full article

Goods and Services Tax officials have busted a racket of firms dealing in bogus input tax credit and have arrested two businessmen in Maharashtra, the finance ministry said in a statement, indicating that efforts to check tax frauds will intensify.

GST officials in the Mumbai zone arrested proprietors of two firms that are engaged in the trading of ferrous waste and scrap. The firms were allegedly availing of input tax credit fraudulently and passing on without receiving the goods or services, in violation of the provisions of CGST Act 2017, the ministry said.