Central Goods and Services Tax, Delhi South Commissionerate, has arrested a Director of a private limited company engaged in trading of Smartphones for fraudulent availment of Input Tax Credit amounting to more than 60 crore rupees through bogus invoices of more than 397 crore rupees.

The Ministry of Finance informed that during the investigation, the director failed to provide satisfactory explanation regarding the operations of the firm and the mode of payment for the alleged transactions. It added that the person arrested was produced before the Duty Magistrate and has been remanded to judicial custody for 14 days.