Mumbai, 11 February 2026

 

The Anti‑Evasion wing of the CGST (Central Goods and Services Tax) & Central Excise, Thane Commissionerate has busted a major fake GST credit fraud involving goods valued at approximately ₹952 crore and fraudulent Input Tax Credit (ITC) of about ₹172 crore.

Based on documents and investigation, it was revealed that Director of M/s Florida Solvent Private Limited, Shri Bhaumik Girishbhai Gandhi (GSTIN: 27AAFCF0626D1Z2) masterminded the fraudulent availment and passing of ineligible ITC without actual receipt or supply of goods.

Multiple searches were conducted on suppliers of M/s Florida Solvent Private Limited by jurisdictional officers, revealing that they were non‑existent or cancelled, indicating fake transactions. Further searches at the residential premises of Shri Bhaumik Girishbhai Gandhi led to recovery of incriminating evidence confirming fraudulent activities.

During investigation, Shri Gandhi admitted his role in masterminding the fraud, earning commissions, and directly benefiting from illegal proceeds in his voluntary statement under Section 70 of the CGST Act, 2017. He was arrested on 10 February 2026, produced before the Hon’ble JM Court, and granted judicial custody for 14 days. Further investigation in the case is underway.

The CGST Thane Commissionerate has reaffirmed its strong stance against tax fraud and assured strict action against individuals and entities indulging in GST evasion.

 

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PIB Mumbai | Yash Rane/Darshana Rane

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