New Delhi, Dec 8 (PTI) GST officers have arrested one person on charges of illegally availing input tax credit (ITC) refund of Rs 8.72 crore.

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The Directorate General of GST Intelligence (DGGI), Haryana, has arrested one Rajesh Kasera resident of New Delhi on charges of IGST fraud by way of illegally availing ITC on invoices without goods, and encashing through IGST refund mode by resorting to overvalued exports, the finance ministry said in a statement.

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The investigation conducted till date reveal that Kasera created and controlled two companies by the name of M/s S.K. Traders and M/s R.K. Enterprises, based in New Delhi and Faridabad respectively.

M/s S.K. Traders had availed/passed on fraudulent ITC of Rs 3.47 crore on invoices without accompanying goods. Further M/s R.K. Enterprises had passed/availed fraudulent ITC of Rs 5.25 crore on invoices without accompanying goods, the ministry said.

"The investigation spanned multiple locations in Delhi NCR area and based on documentary evidence and statements recorded, it was ascertained that Shri Rajesh Kasera was the de facto controller of M/s S.K. Traders and proprietor of M/s R.K. Enterprises. Both these entities indulged in the act of wrong availment /passing on of Input Tax Credit of Rs. 8.72 crore,” it added.

Accordingly, Kasera was arrested on December 7. A total fake ITC of more than Rs 8.72 crore has been thus passed/availed by the accused which was subsequently used for wrongly availing IGST refund, the ministry added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)