An electrical contractor has been arrested for alleged involvement in an Input Tax Credit fraud through the use of fake invoices of Rs 87.08 crore, an official said on Sunday.
The 50-year-old man, based in Belapur in Navi Mumbai, was held on Saturday following action by Goods and Services Tax Maharashtra, he said.
"He availed ITC of Rs 15.67 crore using fake invoices from non-genuine taxpayers without movement of goods or services. This is a violation of the MGST/CGST Act, 2017. He has been remanded in judicial custody for 14 days," he added.