One person has been arrested in Thane for a Rs 8 crore bogus input tax credit scheme.

The Thane Central GST Commissionerate has arrested a Dahisar-based firm and busted a fabricated GST Input Tax Credit (ITC) racket . The company had fraudulently claimed an input tax credit of Rs.

THANE: The Thane Central GST Commissionerate has arrested a Dahisar-based firm and busted a fabricated GST Input Tax Credit (ITC) racket.According to Rajan Chaudhary, the commissioner of CGST (Thane), the anti-evasion wing of CGST Thane Commissionerate commenced an investigation into the Dahisar-based company J. J.Lime Depot, which deals in construction material trading, based on specific reports from the Central Intelligence Unit of the CGST Mumbai zone.According to an official, an investigation revealed that the company had fraudulently claimed an input tax credit of Rs.

The corporation has 8.05 billion dollars in financial records.This corporation had also issued false invoices of more than Rs.20,000.40 Crore for the distribution of this tax credit without a shipment of goods, in gross violation of the CGST Act of 2017.

He was arrested and produced on Thursday and taken to the jail for 14 days, according to a magistrate.In this financial year, Chaudhary said that the CGST Commissionerate Thane will continue its fight against tax evaders.