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AAdult male has been arrested in Maharashtra's Thane territorial dominion for his alleged role in a GST (Goods and Services assess) credit entry put-on worth ₹47.32 crore, an official said on Thursday.According to a release by the Thane commissionerate of Central GST, “The case was detected using internally developed intelligence and advanced data analysis tools, which revealed that M/s KSM Enterprises, run by Vivek Rajesh Maurya, had fraudulently claimed and passed on ITC without any actual supply of goods or services.”Under the GST system, ITC (input tax credit) is a mechanism that allows businesses to offset the tax they pay on their purchases against the tax they collect on outputs, thus preventing double taxation.The CGST release said that a “search” at Maurya’s residence led to the recovery of “incriminating” evidence like bank passbooks, chequebooks, mobile phones and “documents linked to several fraudulent firms”.Maurya was arrested on August 19 and produced before a judicial magistrate, who remanded him in judicial custody for 14 days, the release said.The authorities said that more names could surface as investigations continue.

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Thane man held over GST credit fraud worth ₹47.32 crore

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