CGST Commissionerate, Belapur arrested one of the Directors of M/s. Fantasia Trade Pvt. Ltd., Navi Mumbai for availing and passing on of inadmissible fake Input Tax Credit (ITC) of Rs 81 Crore by using bogus invoices of Rs 479 Crore, said the agency on Sunday.

Acting upon the intelligence developed by using Data Analytics tools, searches were conducted at various locations including the business premises of the firm and the premises of its transporter.