Mumbai: The CGST Palghar Commissionerate arrested Ritesh Padamchand Burad (51), a Chartered Accountant from Bhayandar, for allegedly availing and passing on fake Input Tax Credit (ITC) of Rs 11.72 crores through M/s Flutron Build & Infra Pvt. Ltd. and a web of linked entities.Officials said that the searches were conducted on September 3 at Flutron’s registered/principal place of business and at premises linked to Burad. Statements recorded under Section 70 and documents seized indicate ITC was claimed on the strength of fake invoices without the actual supply of goods or services, the department said.Investigators say Burad—practising as a CA since 2004—controlled invoicing and corresponding bank movements, coordinated with company directors, and charged a 0.25% commission per transaction. He is also linked to dozens of paper companies that allegedly existed mainly to inflate turnover, enhance group net worth, and facilitate bank finance.A tabulation in the case papers shows Rs 11.72 crore of ITC reflected in GSTR-3B over FY 2020-21 to 2025-26 for Flutron Build & Infra Pvt. Ltd. Burad was arrested and produced before the local court, which remanded him to judicial custody. The department sought judicial custody, citing the need to trace money trails and other participants in the alleged network.
