Bogus Input Tax Credit Claim: Company Mastermind Arrested

Fake Bills Worth ₹64.06 Crore Unearthed; Action by Maharashtra State Goods and Services Tax Department

Mumbai : As part of an ongoing crackdown on Goods and Services Tax (GST) evasion, the Maharashtra State GST Department has arrested Prince Goyal (53), CEO of M/s SPG Multi Trade Pvt. Ltd., on December 2, 2024, according to information provided by the Deputy Commissioner of State Tax.

An investigation was initiated against M/s SPG Multi Trade Pvt. Ltd. by the GST Department. During the inquiry, it was found that the company issued fake invoices and bogus transport receipts without supplying any actual goods or services. Through this fraudulent activity, the company claimed input tax credit (ITC) amounting to ₹64.06 crore, defrauding the government.

Prince Goyal was found to be directly involved in this fraud, being responsible for all operations and transactions of M/s SPG Multi Trade Pvt. Ltd. This entire operation was conducted under the guidance of Shanmugarajan S. (IAS), State Tax Joint Commissioner (Investigation-C), and Nayana Gondawale, State Tax Deputy Commissioner. The investigation team, led jointly by Vilas Naik and Ajit Vishe, Assistant State Tax Commissioners, executed the action.