Mumbai, November 4: The Maharashtra Goods & Services Tax Department has busted a GST scam involving fake invoices worth Rs 45 crore and arrested a businessman for the alleged fraud, an official said here on Friday.

Launching a special operation, GST sleuths raided Arnav Creations on Wednesday as part of the ongoing probe into the malaise of fraudulent invoices to cheat the exchequer. Maharashtra Shocker: Man Held for Killing Woman With Borewell Hand-Pump in Nagpur.

The team of Assistant Commissioners Arjun P. Suryawanshi, Ramesh Awaghade and Pradnya Brahmande, along with Inspectors, executed the operation with guidance from State Tax Joint Commissioner Anil Bhandari and Deputy Commissioner Mohan R. Bagade.

Jagdish Jagannath Patil, 48, who is said to be the proprietor of Arnav Creations, with a GST Registration in the firm's name since August 2018, was nabbed in the raid. Maharashtra Shocker: Man Dragged Under Tyre of Car Hit by Moth Attack Near Kolhapur; Miraculously Escapes Death (Watch Viral Video).

The probe revealed that Patil had availed fake Input Tax Credit of Rs 7.08 crore from certain non-existent tax-payers by means of returns only and without any movement of goods and services worth Rs 47 crore. In this manner, he passed on credit of Rs 6.79 crore without actually supplying goods or services worth Rs 45 crore.

Patil was produced before the Esplanade Court Additional Chief Metropolitan Magistrate in Mumbai who sent him to 14 days judicial custody, said Suryawanshi.

In the current fiscal, this is the 49th arrest made by the department which has again sternly warned tax evaders to beware of declaring bogus turnover and claiming fake ITC benefits.

(The above story first appeared on LatestLY on Nov 04, 2022 07:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).