Mira Road man held for floating ghost firm to pass off fake GST credits for allegedly generating and passing on fake Input Tax Credit worth Rs 8.43 crore

The Maharashtra State Tax Department (Thane Zone) has arrested a Mira Road resident, Srikanth Vaidyanath, for allegedly generating and passing on fake Input Tax Credit (ITC) worth Rs 8.43 crore through a firm that investigators claim existed only on paper. The arrest was made by the State Tax Investigation Branch, Bhayandar.

Officials said Srikanth was listed as the proprietor of M/s Srikanth Enterprises, a firm suspected to be a shell entity. When officers visited its declared business address — C-118, Mira Darshan Complex, MTNL Road, Jangid Circle — they reportedly found no sign of commercial activity. The premises allegedly lacked

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