<p>The Directorate General of GST Intelligence (DGGI), Nagpur has come across fraudulent transactions of Rs 290.70 crore, including fake input tax credit (ITC) of Rs 25.22 crore, after searches at a private firm and one person has been arrested, an official said on Monday.</p>.<p>As per a DGGI release, searches were conducted on a Mumbai-based firm, M/s M & M Advisors and Consultants Private Limited, as follow-up of the detection of a non-existent advertising firm in Dhule.</p>.<p>The searches uncovered documents which revealed the company was engaged in licensing rights of film production houses for broadcast on national and international channels.</p>.<p>"They were purchasing rights of movies produced by top banners and transferring these rights under contract system to Rights Assignors, which was availing input tax credit. We have found fraudulent transactions of Rs 290.70 crore and fake ITC of Rs 25.22 crore passed on to Rights Assignors," the release said.</p>.<p>A director of the firm was arrested on December 5, an official said. </p>
<p>The Directorate General of GST Intelligence (DGGI), Nagpur has come across fraudulent transactions of Rs 290.70 crore, including fake input tax credit (ITC) of Rs 25.22 crore, after searches at a private firm and one person has been arrested, an official said on Monday.</p>.<p>As per a DGGI release, searches were conducted on a Mumbai-based firm, M/s M & M Advisors and Consultants Private Limited, as follow-up of the detection of a non-existent advertising firm in Dhule.</p>.<p>The searches uncovered documents which revealed the company was engaged in licensing rights of film production houses for broadcast on national and international channels.</p>.<p>"They were purchasing rights of movies produced by top banners and transferring these rights under contract system to Rights Assignors, which was availing input tax credit. We have found fraudulent transactions of Rs 290.70 crore and fake ITC of Rs 25.22 crore passed on to Rights Assignors," the release said.</p>.<p>A director of the firm was arrested on December 5, an official said. </p>