Home / Crime and Justice / Rs 32 Crore ITC Fraud Uncovered, Director Arrested
Rs 32 Crore ITC Fraud Uncovered, Director Arrested
25 Sep
Summary
- Secunderabad CGST uncovered a Rs 32.28 crore Input Tax Credit fraud.
- A company director was arrested for using bogus invoices from fake firms.
- Supplier companies were non-functional or had cancelled GST registrations.
The Central Goods and Services Tax (CGST) Secunderabad has exposed a major fraud involving fraudulent Input Tax Credit (ITC) claims totaling Rs 32.28 crore. This intricate scheme relied on bogus invoices issued by companies that were found to be non-existent or had their Goods and Services Tax (GST) registrations cancelled.
Investigations led to the arrest of a company director, identified as the mastermind behind the operation in Musheerabad. The accused was taken into custody on September 24 and remanded to judicial custody for 14 days, with further investigations ongoing.
Evidence indicates the company, involved in trading TMT bars and steel pipes, claimed ITC without the actual receipt of goods. Field verifications confirmed that the purported supplier entities lacked any genuine business operations at their stated locations, highlighting a clear contravention of GST laws.
