In a major anti tax evasion drive by the Central Goods and Services Tax, Mumbai zone, the Thane rural commissionerate on Wednesday arrested a chartered accountant for allegedly generating fake input tax credit (ITC) to the tune of R92 crore. The fraud involved fake invoices of goods worth more than R500 crore without actual receipt of the same.

CGST officials said that during investigation, it found that a firm named M/S Shraddha Electrical in Ambernath was involved in a tax scam. After probe, the CGST nabbed the CA who has admitted to creating fake ITC.  The accused was booked under Section 69 of the CGST Act and was placed before the Additional Chief Metropolitan Magistrate, Mumbai. The court has remanded him in judicial custody for 14 days.