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.
Source #TOI
Bail Granted
Bail Order (R.A. No. 723 of 2025) dated September 30, 2025
In this case before the Additional Chief Judicial Magistrate, 19th Court, Esplanade, Mumbai, applicant Mr. Ritesh Padamchand Burad sought bail under Section 480 of the BNSS, 2023, in connection with an offence under Section 132 of the GST Act, 2017, relating to fraudulent Input Tax Credit (ITC) of ₹11.72 crores by M/s. Flutron Build and Infra Pvt. Ltd. The applicant claimed he had resigned as the company’s director in May 2022 and was only working as a Chartered Accountant thereafter, with no involvement in the company’s management. The prosecution opposed bail, alleging he was directly involved in day-to-day operations and benefited financially from the fraudulent transactions.
The Court noted that the accused had been in custody since 11 September 2025, and all documentary evidence was already with the authorities; further custodial interrogation was unnecessary. Observing that the offences were compoundable and that the accused’s presence could be secured through conditions, the Court granted bail with strict terms, including a ₹2,00,000 personal bond and sureties, surrender of passport, cooperation with investigation, non-interference with witnesses, and notification of residence and relatives’ details. The bail order was passed on 30 September 2025 by Judge S. K. Fokmare.
Click to access Bail-Order.pdf
