An accountant in Mumbai has been arrested for allegedly issuing bogus bills of Rs 1,000 crore and committing an input tax credit (ITC) fraud of Rs 181 crore, GST authorities said on Wednesday.

The 27-year-old man, who worked as an accountant and GST consultant, was arrested by officers of the Palghar CGST Commissionerate of the Mumbai Zone, according to an official statement.

Investigations into the matter started based on specific inputs received from data mining and data analysis, which pointed to M/s Nithilan Enterprises being engaged in availing and passing of fake ITC by issuing fake invoices without receipt of goods or services, it said.

Investigations revealed that the accountant was using the identity of one of his clients for committing the GST fraud to rake in a fast buck.

Confronted with material evidence, he confessed to his crime and was arrested on Tuesday.

A local court remanded the accused to judicial custody for 14 days.

The statement said the accused is suspected to be a part of a bigger network which lures innocent people to obtain GST registration and then 'steals' this registration, which is subsequently deployed for generation, availment and passing on of fake ITC.

Efforts are underway to identify the kingpin of the racket and other beneficiaries of this network, the statement said.

The arrest follows a number of other similar rackets busted by the GST authorities in Mumbai.

The statement said the Palghar CGST Commissionerate alone has detected tax evasion of Rs 460 crore and recovered Rs 12 crore and arrested two so far. Two persons have been arrested in connection with the case.

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