A woman director of three companies has been arrested and remanded to judicial custody for alleged receipt and issuance of fake GST invoices, without any actual transaction and availing Rs. 43 crore Input Tax Credit (ITC), a senior official said today.
She was arrested following a tip-off after which search operations were held, and fake invoices were recovered from the premises of these companies
Arrest was under Central Goods and Services Tax Act, 2017
The woman allegedly admitted that fake invoices were issued without the supply of goods from three of her companies to enable the receivers (firms) avail ITC to the tune of Rs. 42.93 crore and that she received the commission on invoice value.
The woman was arrested on December 15 under the Central Goods and Services Tax (CGST) Act of 2017.
Serious efforts to curb evasion of GST being taken: Reddy
Principal Commissioner of GST and Central Excise (North), M Sreedhar Reddy said the woman has been remanded to judicial custody. He added that further investigation is in progress and "the department has taken serious efforts to curb evasion of GST."