for availing fake Input Tax Credit (ITC) of over Rs. 9 crore
through shell firms. They are now in judicial custody as the investigation continues.
Raigad, 01 August 2025: The CGST & Central Excise Raigad Commissionerate,
Mumbai Zone, has arrested two persons for fraudulently availing and passing on
Input Tax Credit (ITC) worth Rs. 9 crore using fake shell companies
in New Panvel.
Officials revealed that the accused created fictitious firms and issued
invoices without any real supply of goods or services.
M/s. Jaisha Metals Private Limited had availed ineligible ITC
from non-existent firms registered with forged documents.
On inspection, the company was non-operational at its registered
business address, confirming no actual goods were received or supplied.
The arrested individuals are:
- Shri Mukesh Devnarayan Tiwari – Resident of New Panvel
- Shri Sandeep Nanhelal Modanwal – Resident of Dombivli (W)
They were arrested under Section 69(1) of the CGST Act, 2017,
for offences punishable under Sections 132(1)(b) & 132(1)(c).
The Judicial Magistrate First Class, Panvel, has sent both to
judicial custody.
The department confirmed that
further investigation is underway to identify other beneficiaries
and operators of this fake invoice racket.
