CGST and Excise officers in Belapur have arrested the chairman and managing director of a software company for evading tax of ₹9.60 crore. Global Space Technologies Ltd. at Millennium Business Park, Mahape, was found not reporting its turnover in income tax returns.
“They hid their turnover from authorities, but it was revealed on examining their private records. It involved evading tax of ₹6.30 crore. The company also availed itself of ineligible input tax credit (ITC) on the strength of invoices raised by fake companies to which there was no supply of goods or services. The ITC availed is of ₹3.30 crore on the invoices under which no goods or services have been received,” Manpreet Arora, Commissioner, CGST and Central Excise Department, said.
In another case, the Raigad team arrested Amit Shukla for availing ITC of ₹66 crore. Mr. Shukla is the proprietor of Vijay lspat and director of Sushmita Mercantile Pvt. Ltd.
In both cases, the accused were arrested under the GST Act and remanded in police custody for 14 days.
