India News | Chhattisgarh: Pvt Firm Director, Employee Held for GST Fraud in Raipur

Raipur, Nov 29 (PTI) The director and accountant of a private firm were arrested in Chhattisgarh's Raipur on Tuesday for evasion of the Good and Services Tax (GST) by passing on fake input tax credit (ITC) of Rs 1.92 crore, an official said on Tuesday.

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Based on a tip-off, officials of the CGST and Central Excise raided the premises of Topisto Products Private Limited, the official said.

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The firm was allegedly involved in large scale evasion of GST by generating fake invoices and passing on fake ITC without supplying any goods or services, he said.

Investigations have revealed that the director and the accountant of the company had allegedly created fake firms and generated fake ITC of Rs 114.70 crore and already passed on Rs 1.92 crore, the official said.

The accused were planning to further pass on fake ITC of Rs 112.78 crore, he said.

The duo have been arrested under relevant provisions of the Central Goods and Services Tax Act 2017, the official 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)