Businessman held in Rs 45 crore GST fraud case

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The anti-evasion wing of Central Goods & Services Tax (GST) arrested a businessman, Mukesh Vyas, on Wednesday, for fraudulently availing Rs 45 crore input tax credit. Vyas, who had been operating 10 dubious companies, had issued bogus invoices to different firms.

The companies that existed only on paper were registered in the names of different people whom Vyas would pay around Rs 20,000 every month.

GST officials produced Vyas before a court on Wednesday. The court remanded him in judicial custody till December 1. Last month, GST officials had searched Vyas’s premises and recovered several documents.

They recorded his statement on October 8, where he reportedly admitted he had been operating the companies to issue bogus invoices, said the remand application submitted before the court. The investigator found Vyas had issued invoices worth Rs 300 crore to avail input tax credit worth Rs 45 crore.

Source from: https://timesofindia.indiatimes.com/city/mumbai/businessman-held-in-rs-45-crore-gst-fraud-case/articleshow/79295961.cms

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