The Central Items & Companies Tax (CGST) Bhiwandi Commissionerate officers based mostly upon a particular intelligence have busted a case of non-payment of GST and fraudulent availment of Enter Tax Credit score (ITC) amounting to Rs 78 crore towards M/S A S Agri and Aqua LLP and have arrested three companions of the mentioned agency on Sunday.
The arrested individuals have been produced earlier than the court docket which remanded them to judicial custody until August 12.
In response to the CGST officers, the mentioned agency had not discharged the GST legal responsibility amounting to Rs 53 crore on advance funds amounting to Rs 292 crore acquired from the recipients of Work Contract Companies for building of poly homes, which is taxable beneath CGST Act. Additional, the mentioned agency had fraudulently availed ITC amounting to Rs 25 crore on the Work Contract Companies for building of immovable property, which isn’t obtainable beneath the provisions of the CGST Act.
“This case is part of the particular drive launched by the CGST Mumbai Zone towards the tax fraudsters and pretend ITC networks. Thus far, CGST Bhiwandi Commissionerate has arrested 14 individuals in final one 12 months itself. CGST officers are utilizing information evaluation and community evaluation instruments to establish and hint the potential fraudsters. CGST officers will intensify this drive towards the tax evaders within the coming days,” mentioned an official.
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