Central Goods and Services Tax (CGST) unit unearthed a fake input tax credit (ITC) racket and arrested the proprietor of a Dahisar-based firm, for fraudulently claiming Rs 8.05 crore in tax credit.The department found that JJ Lime Depot — a company trading in construction material — had issued bogus invoices of over Rs 40 crore for passing on fake tax credits without any supply of goods in violation of provisions of the CGST Act, 2017.
