2 directors of 2 firms held for Rs 660 cr GST con

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Two directors of two firms who fraudulently availed input tax credit (ITC) using forged purchase and sale invoices and attempted to dupe the government of Rs 660 crore were arrested by Central Goods and Service Tax (GST) authorities on Wednesday.

A businessman can cut his tax liability by claiming credit to the extent of GST paid on purchase. Fraudulent traders avail input tax credit with the help of forged invoice sale and purchase.  Director general of GST intelligence which was discreetly carrying out a probe into the scam has arrested Rajesh Gulvantrai Mehta and Urvvil Akshaya Jani, director of Oneworld Industries.

Read More at: https://timesofindia.indiatimes.com/city/mumbai/mumbai-2-directors-of-2-firms-held-for-rs-660-cr-gst-con/articleshow/67170691.cms