Raipur:
An iron and steel products trader was arrested in Chhattisgarh’s Durg district for allegedly passing on input tax credit worth Rs 14.71 crore by issuing bogus invoices to firms, a Central GST official said on Friday. In a statement, it said Narayan Swamy was arrested by a team of Central GST and Central Excise, Raipur on Thursday, adding it was the third arrest in the invoice input credit racket in the last three months.
“The preliminary investigation found Narayan Steels, a non-existent firm owned by Swamy with its address in Bhilai in Durg, had wrongly passed input tax credit of Rs 14.71 crore by issuing bogus invoices to several firms without actual supply of goods,” it said. Narayan Steels had issued bogus invoice valued at Rs 96.44 crore to Om Ispat which then passed the ineligible input tax credit to HK Enterprises, an official said.
“Swamy has been charged under relevant sections of GST Act 2017. The action was carried out under the directions of BB Mohapatra, Principal Commissioner, CGST, Raipur,” he said. PTI
