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.