Mumbai: The Central Goods and Service Tax (CGST) department on Saturday arrested a partner in a chartered accountant firm in connection with issuance of fake invoices, and for allegedly availing of and passing on fraudulent input tax credit (ITC) to the tune of Rs 10.6 crore on a turnover of Rs 59.1 crore. ITC reduces the total tax outgo.
CGST’s Mumbai west wing on Friday arrested Chandraprakash Pandey, partner in Pandey and Associates. He was produced before a holiday court and remanded to 14 days’ judicial custody. Officials said they are looking for more people. —S Ahmed Ali
Source: https://timesofindia.indiatimes.com/city/mumbai/partner-in-ca-firm-arrested-in-gst-fraud/articleshow/79700025.cms
