A woman director of three companies hasbeen arrested and remanded to judicial custody for alleged receipt andissuance of fake GST invoices without any actual transaction andavailing Rs 43 crore Input Tax Credit, a senior official said Monday.
Following a tip off, search operations were held, and fake invoicesrecovered from the premises of these companies
The woman allegedly admitted that fake invoices were issued without supply of goods from her three companies to enablethe receivers (firms) to avail ITC to the tune of Rs.42.93 crore and received commission on invoice value.
The woman beenarrested under the CGST Act on December 15 and remanded tojudicial custody, Principal Commissionerof GST and Central Excise (North),M Sreedhar Reddy said.
"Further investigation is in progress. The department has taken serious efforts to curbevasion of GST.
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