Quick Summary
Five people, including a chartered accountant (CA), were Friday arrested in connection with Rs 11 crore GST scam reported in 2019 involving around 100 shell companies. Police officials claimed that the scam could involve misappropriation of GST funds of Rs 100 crore. The arrested five included
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
Five people were arrested, including a chartered accountant.
The reported fraud is Rs 11 crore, but police officials claim the scam could involve misappropriation of GST funds up to Rs 100 crore.
The scam involved around 100 shell companies.
Yes, a reward of Rs 30,000 was announced for Ishwar Chand Garg, who had been absconding for three years.
The accused allegedly obtained GST registration for fake firms, conducted bogus transactions, and failed to deposit the due tax in the government treasury, thereby claiming GST benefits and causing losses.
The main business of the firm, AK Trading Company, was reported as supplying all kinds of scrap.
CAclubindia
