Mumbai, Mar 31 (PTI) Central Goods and Services Tax (CGST) officials on Thursday said they have arrested one person for allegedly claiming Rs 12.62 crore of fake input tax credit on bogus invoices.

The unnamed director from Dharamraj Metal Corporation was arrested on Thursday for availing and passing fake ITC of Rs 12.62 crore on bogus invoices of Rs 70 crore, according to an official tweet.

Also Read | Telangana Heatwave: People Advised to Stay Indoors Between 12 PM to 4 PM.

The arrested accused was remanded to judicial custody till April 13 by a local court, the tweet stated.

The case comes a day after officials from the CGST Commissionerate, Navi Mumbai busted a fake ITC racket of Rs 19.84 crore by arresting a director of Fortune Global Trade.

Also Read | Actress Assault Case: Kerala High Court Reserves Order in Case Against Malayalam Actor Dileep in Connection with 2017 Case.

The Vikhroli-based company dealing in trade of synthetic rubber had engaged in availing and utilization of fake GST Input Tax Credit (ITC) on the basis of bogus invoices of Rs 110 crore, as per an official statement.

(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)