Summary:
Vadodara: Officials of the Goods and Services Tax (GST) department caught a city-based company that was fraudulently claiming input tax credit worth crores. He was given bail on issuance of Rs 35 lakh bond, a GST spokesperson said.GST officials suspect that there may be more such firms issuing fake invoices to KSEG India International without supplying any goods.GST department has booked several such companies and arrested the top management for fraudulently availing input tax credit by showing invoices of fake firms. GST officials booked KSEG India International for wrongfully availing input tax credit to the tune of Rs 3.3 crore.The company management showed fake invoices issued by various firms sans physical or actual movement of goods.“The investigation has also revealed that these supplier firms existed only on paper and they have issued only invoices to their customers without supplying any physical or actual movement of goods to facilitating false claim of ITC,” an official release by Mallika Mahajan, principal commissioner, Central GST and Central Excise, Vadodara 1, said.Proprietor of the company, Sazid Ali Khan, was arrested by GST officials on Saturday..