<h1>Authorities Bust Rs 26.92 Crore GST Evasion Racket; Mastermind Arrested for Fake ITC Using 18 Fictitious Entities</h1> Authorities in Thane, Maharashtra, have dismantled a GST evasion racket involving a fraudulent input tax credit scam worth Rs 26.92 crore. The alleged mastermind, a resident of Mira Road, was arrested for orchestrating the fraud by creating 18 fictitious entities to generate fake invoices and claim ITC without actual transactions. The accused exploited personal identification documents of various individuals to register these fake firms, open bank accounts, and establish a network of dummy companies. The fraudulent credits were passed to other firms, causing significant financial loss to the government. The individual has been remanded in 14-day judicial custody, and investigations continue.