GST department arrests two businessmen in Mumbai for 'duping exchequer of Rs 127 crore by issuing fake invoices'

Mumbai: The Goods and Services Tax (GST) department on Saturday arrested two persons in Mumbai for allegedly duping the exchequer of Rs 127 crore by issuing fake GST invoices and not paying the service tax.

Amit Upadhyay (40) and Asad Anwar Sayed (42) were sent in judicial custody for 15 days by a local court, a GST official said in Mumbai.

During April 2016 to June 2017, Upadhyay, a city-based businessman, collected service tax of Rs 47 crore but did not deposit the amount with the Service Tax department, the official said.

Further, he allegedly received Rs 79.38 crore through fake GST invoices with the help of Sayed, who owns a computer solutions company, with the intention of evading tax, the official said.

Further probe was on, the official added.

Updated Date: May 21, 2018 08:40:57 IST