Ehsas Ali Saiyad, a resident of Vadodara, has been arrested for allegedly issuing fake invoices to claim Rs 177.64-crore input tax credit.
The 29-year-old allegedly floated 66 fake companies with as many dummy owners in whose name he issued tax invoices to claim input tax credit (ITC). As per the commissionerate, he obtained GST registration, GST identity cards, login-password, SIM cards, bank accounts and online passwords in the name of these dummy owners.
Input tax credit is the tax benefit manufacturers get for the GST they pay on purchase of goods.
