NewsIndiaMumbai businessman copped for Rs. 31 crore GST scam

Mumbai businessman copped for Rs. 31 crore GST scam

-

Mumbai (Maharashtra) [India]: Maharashtra Goods and Services Tax (GST) Department on Friday arrested a Vile Parle-based businessman for allegedly causing a revenue loss of Rs 31 crore to the state government by fraudulently claiming the input tax credit.

As per a press statement from GST Department, the five firms owned by accused Anju Gupta showed estimated bogus purchases of more than Rs 272 crore and thereby had availed of bogus Input Tax Credit of more than Rs 31 crore without actually buying any goods or services.

“Anuj Gupta has a total of five firms, viz – Savvy Fabrics, Shiv Textiles, and Shakti Textile- which are registered under Maharashtra Goods and Service Tax Act 2017, and other two firms viz – Subhlene Fabrics and Shubhmangal Textiles Industries which arc registered in the Union Territory of Dadra and Nagar Haveli…The two firms at Dadra Nagar Haveli have even received a refund of more than Rs. 11 Crores from the government,” it stated.

During the investigation, the Maharashtra GST Department observed that these companies physically possess only 20 percent of the total stock value that is claimed by them to be in their possession, and the remaining 80 percent stock is not actually found to be with them.

The accused was produced before the Court of the Additional Chief Metropolitan Magistrate, from where he was sent to 14 days of judicial custody. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Swiss unanimously votes for same-sex union referendum

GENEVA — In Switzerland, a controversial same-sex marriage referendum has been resoundingly approved by voters of the conservative, rich Alpine...

New Covid surge overwhelms hospitals in parts of US

WASHINGTON, D.C. — According to one of the country's top health officials, the spike in coronavirus cases in the...

China wants effeminate male celebs to man up

WASHINGTON — Macho men are in and effeminate male performers are out as Beijing expands its crackdown on China's entertainment...

Billie Eilish, BTS to perform at climate change concert

Billie Eilish, BTS, and Elton John, among others, will donate their star power to Global Citizen Live on Saturday...

Google faces off EU in court over record $5.1 billion antitrust fine

This week, Google will face the European Commission in a five-day court hearing, appealing a record $5.1 billion fine...

WHO’s Covax misses 2021 target. What went wrong?

The latest supply forecast for Covax – the programme for sharing COVID-19 vaccines around the world – suggests that accelerating vaccination...

Must read

You might also likeRELATED
Recommended to you