GST fraud: Two people have been arrested for illegally availing and passing on input tax credit (ITC) of over ₹10 crore, the Ministry of Finance said on Wednesday. In a statement, the ministry said that the CGST Commissionerate, Faridabad, Haryana has arrested two directors of F2C Wellness Pvt Ltd on charges of fraudulently availing and passing on input tax credit by issuance of invoices without supply of goods. In this way, F2C Wellness had passed fraudulent credit of ₹10.33 crore on invoices without accompanying goods to various end users. "A total fraudulent ITC of ₹10.33 crore has thus been passed/availed by the said firm...Further investigation in the matter is under progress," the ministry said. Last month, a Delhi-based businessman was arrested for an alleged ₹128 crore GST-related fraud, news agency PTI reported citing a senior official.

Source: Mint August 11, 2021 16:06 UTC