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Meerut CGST Commissionerate busts syndicate that fraudulently claimed Input Tax Credit of over Rs. 1,000 crore through a network of 232 fake firms, 3 arrested The Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, started an investigation in October 2023 into a large syndicate that fraudulently claimed Input Tax Credit (ITC) by way of fake billing. The investigation conducted so far has revealed that total number of232 fake firms, with 91 firms registere
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FAQ :
The total value of the Input Tax Credit (ITC) fraudulently claimed is approximately Rs 1,048 crore.
A total of 232 fake firms were used to facilitate the fraud.
Three people have been arrested in connection with the fraud.
Mr. Praveen Kumar is identified as the mastermind who filed GST returns for all the fake firms.
Funds generated through the fraudulently claimed ITC were parked and routed through 'Full Fledged Money Changer Companies' (FFMCs).
Five bank accounts used to park the proceeds and the accounts used for fake transactions have been provisionally attached.
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