Man held for GST fraud of over Rs 10 cr remanded 14-day judicial custody
Dec 12, 2020
Mumbai (Maharashtra) [India], December 12 : Chandraprakash Pandey - partner of M/s CP Pandey and Associates - who was arrested on December 10 for his alleged involvement in over Rs 10 crore Goods and Service Tax (GST) fraud, has been remanded to judicial custody for 14 days.
According to the Central GST Mumbai West officials, Pandey was produced before the Magistrate Court, Mumbai on Friday, wherein he was remanded to judicial custody for 14 days.
The officials said Pandey was indulged in circular trading by way of issuing fake invoices; availing and passing on fraudulent ITC involving GST of Rs 10.63 crore (approx.) on turnover of Rs 59.10crore (approx.).
"The preliminary investigation has unveiled a network of around 50 firms registered in the same premises and involved in fraudulent activity of circular trading with the intent of issuing fake/bogus invoices and passing on/utilizing the same towards payment of GST," said an official.
