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Thane: Rs 34.74 crore fraudulent tax credit racket busted, three held
Updated On: 31 August, 2024 06:12 PM IST | Thane | mid-day online correspondent
The Thane Central Board Of Indirect Taxes & Customs and Central Excise Commissionerate has dismantled a fraudulent Input Tax Credit operation involving 19 fake entities and the illegal passing of Rs 34.74 crore, news agency ANI reported on Saturday. The mastermind of the fraud and his two accomplices have been arrested in this case
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The Thane Central Board of Indirect Taxes and Customs (CGST) and Central Excise Commissionerate, which are a part of the Mumbai CGST and CX Zone, dismantled a fraudulent Input Tax Credit (ITC) scheme involving 19 fake entities, leading to the illegal passing of Rs 34.74 crore in fraudulent ITC and the arrest of the mastermind and his two accomplices.
During a series of follow-up searches, the authorities uncovered incriminating evidence, including fake invoices, chequebooks, laptops, and pen drives containing details of the bogus firms.
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