Rs.700 Crore GST Fraud Unearthed In Madhya Pradesh

Monday, 30 May 2022newsdesk

Five people from Gujarat have been arrested in connection with an alleged Goods and Services Tax (GST) credit fraud to the tune of Rs.700 crore, Madhya Pradesh police said on Sunday.

New Delhi, 30 May 2022

As per news report of NDTV, the accused ran the fake GST input tax credit (ITC) racket by creating a network of around 500 bogus firms using forged documents, addresses and fake identities. They generated and passed on input tax credit of more than Rs.700 crore by issuing fake invoices through the bogus firms, officials said. A joint investigation by the Central GST Commissionerate in Indore and the Madhya Pradesh Police's cyber cell revealed that the accused routed the transactions through digital wallet accounts linked to different mobile numbers.

Source -NDTV