The Chief Metropolitan Magistrate of Bankshall Court today rejected the bail plea by three persons, including two directors of a company in the Hooghly area, who were arrested in connection with a Central Goods and Service Tax (CGST) fraud to the tune of around Rs 43 crore.
The fraud was unearthed on July 6 by the commissionerate, which covers the Howrah and Hooghly areas.
The company is accused of issuing a huge number of fake GST invoices without supply of any goods or services, to facilitate the recipients avail irregular Input Tax Credit.
The recipients availed inadmissible Input Tax Credit, the official said, adding that some of them were also found to be non-existent.
The investigation into the incident is still underway.
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