Hyderabad, Sept. 25 -- A Hyderabad-based businessman has been arrested for a Rs 32.28 crore Input Tax Credit (ITC) fraud.

The Anti-Evasion Branch of the Central Goods & Services Tax (CGST), Secunderabad Commissionerate, took the alleged mastermind into custody on Thursday, September 24, as part of its ongoing crackdown on fraudulent ITC claims.

According to the CGST officials, the company linked to the accused was engaged in the trading of TMT bars, steel pipes, and tubes.

The investigation found that the company availed ITC on invoices issued by firms that were non-existent, non-functional, or had cancelled GST registrations.

Field inspection by jurisdictional authorities reportedly established that these suppliers were bogus entitie...