Quick Summary
Five people from Gujarat have been arrested in connection with an alleged GST credit fraud to the tune of Rs. 700 crore, Madhya Pradesh police said today. The accused ran the fake GST ITC racket by creating a network of around 500 bogus firms using forged documents, addresses and fake identities.
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FAQ :
The GST fraud is worth approximately Rs 700 crore.
Five people from Gujarat have been arrested.
They created a network of around 500 bogus firms using forged documents, addresses, and fake identities to generate and pass on Input Tax Credit (ITC) through fake invoices.
The accused routed transactions through multiple digital wallet accounts linked to different mobile numbers to avoid conventional banking channels.
The arrests were made in Surat, Gujarat, on May 25.
Mobile phones, SIM cards, documents, seals, and letter pads pertaining to the fake firms were seized.
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