India, Aug. 17 -- The State Goods and Services Tax (SGST) department has arrested two company directors in separate cases of fraudulent Input Tax Credit (ITC) claims, collectively involving Goods and Services Tax (GST) evasion worth approximately Rs.50 crore.

Yashwant Kumar Tailor, director, Magic Gold Bullion Pvt. Ltd., was arrested on Saturday for allegedly availing ITC of Rs.30.51 crore on the basis of fake invoices issued by non-existent firms between June 2020 and June 2025, according to release issued by SGST.

"Investigations revealed that the company had neither the infrastructure nor manpower to justify its declared turnover. Authorities noted that Tailor failed to appear before the department or produce requisite supporting doc...