CA Arrested for Passing Rs 11.71 Crore Fake ITC Through Flutron Build and Infra
The CGST Palghar Commissionerate arrested Ritesh Padamchand Burad (51), a Chartered Accountant from Bhayandar for allegedly availing and passing on a fake Input Tax Credit (ITC) of Rs 11.71 crores via M/s Flutron Build and Infra Pvt. Ltd. and a web of linked entities.
Investigation conducted on September 3 at Fluton’s registered place of business and at premises linked to Burad. The Income Tax Department said, Statements recorded under Section 70 and documents seized specify ITC was claimed on the strength of fake invoices without the actual supply of goods or services.
Investigator officers said that Ritesh Padamchand Burad controlled invoicing and corresponding bank movements, coordinated with company directors and charged a 0.25% commission per transaction. He is also connected with several paper companies which allegedly existed mainly to inflate turnover, facilitate bank finance and boost group net worth.
In the case paper, a table shows Rs 11.72 crore of ITC reflected in GSTR-3B over Financial year 2020-21 to 2025-26 for Flutron Build and Infra Pvt. Ltd. Ritesh Padamchand Burad was arrested and produced before the court, which remanded him to custody. The department looks for judicial custody, as it will further help in tracing money trails and other participants in the alleged network.
Officials declared that the crackdown is part of a broader effort to restrict the misuse of GST provisions and protect government revenue.