CGST Secunderabad arrests mastermind in Rs 32.28 crore fake ITC case

Hyderabad, Sep 25 (UNI) The Anti-Evasion Branch of the CGST Secunderabad Commissionerate has unearthed an alleged fraudulent availment of Input Tax Credit (ITC) amounting to Rs 32.28 crore through bogus invoices and arrested the alleged mastermind in the case. According to the CGST release on Friday, the accused, based in Musheerabad, Hyderabad, was involved in a company trading in TMT bars and steel pipes and tubes. The company allegedly availed fraudulent ITC based on invoices issued by firms found to be non-existent, non-functional or having cancelled GST registrations. Field verification by the jurisdictional authorities reportedly confirmed that the suppliers were…