Quick Summary
The Goods and Services Tax (GST) department has arrested Pragnesh Kantaria, the alleged mastermind behind a massive ₹186 crore GST scam. The arrest followed extensive raids at Fortune Copper Industries, Infinity Exim, and 14 other companies associated with Kantaria, unearthing widespread fraudulent activities. Key Highlights of the Case Fraudulent Billing Operations: Kantaria, involved in copper trading across Rajkot, Surat, Bharuch, Vapi, Junagadh, and Bhavnagar, allegedly created fake in
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FAQ :
Pragnesh Kantaria, an alleged mastermind behind the scam, has been arrested by the GST department.
The alleged GST scam is valued at approximately £186 crore.
The investigation uncovered fraudulent billing operations, including the creation of fake invoices for copper purchases, and the illegal claiming of input tax credits worth £34 crore.
The fraudulent claims have caused a £34 crore loss to the government treasury.
Yes, Sandip Varani, a partner at Fortune Copper Industries, was previously arrested on November 13 for a related £19.46 crore GST fraud.
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