Chennai, December 17: A woman director of three companies has been arrested and remanded to judicial custody for alleged receipt and issuance of fake GST invoices without any actual transaction and availing Rs 43 crore Input Tax Credit, a senior official said on Monday.
Following a tip-off, search operations were held, and fake invoices recovered from the premises of these companies.
The woman allegedly admitted that fake invoices were issued without supply of goods from her three companies to enable the receivers (firms) to avail ITC of Rs 42.93 crore and received commission on invoice value.
The woman had been arrested under the CGST Act on December 15 and remanded to judicial custody, Principal Commissioner of GST and Central Excise (North), M Sreedhar Reddy, said.
“Further investigation is in progress. The department has taken serious efforts to curb evasion of GST.” PTI
