Maharashtra: Man Arrested for Rs 47.32 Crore GST Fraud in Thane

Thane, Aug 21: Authorities in Maharashtra's Thane district have apprehended a man in connection with a substantial GST credit fraud amounting to Rs 47.32 crore. The arrest, executed recently, was confirmed by an official on Thursday.

According to a statement issued by the Thane commissionerate of Central GST, investigators employed advanced data analysis tools and proprietary intelligence to uncover the fraudulent activities of M/s KSM Enterprises, managed by Vivek Rajesh Maurya. The probe revealed that Maurya's firm illicitly claimed and distributed Input Tax Credit (ITC) despite the absence of any legitimate supply of goods or services. Under the GST framework, ITC is designed to mitigate double taxation by allowing businesses to offset taxes paid on purchases against those collected on sales.

The CGST release further detailed that a search operation conducted at Maurya's residence unearthed incriminating evidence, including bank documents, mobile phones, and items connecting him to several sham enterprises.

Maurya was taken into custody on August 19 and subsequently presented before a judicial magistrate, who ordered his detention for 14 days, as noted in the statement.

The authorities have indicated that the investigation is ongoing, with the potential for additional individuals to be implicated as further details emerge.

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