�107 crore GST credit fraud detected, one arrested

 thehindu.com  09/16/2020 18:53:49 

The GST and Central Excise Department, Chennai Outer, has arrested a 56-year-old person from Kodungaiyur, for committing a GST credit fraud of 107 crore.

He was arrested and produced before the Economic Offences Judge-II, Egmore, and remanded to judicial custody till September 29, according to a statement.

The case is that the accused along with a few others had taken GST registration in the name of persons with non-existent addresses using doctored documents. The purpose of floating such fictitious companies is to commit GST credit frauds, it added.

In the process, GST credit fraud to the tune of 107 crore on invoice value of 740 crore was committed by the accused along with his accomplices, the statement said.

The department is on the lookout for his accomplices and has identified all those involved. Further investigations are on.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism

Dear subscriber,

Thank you!

Your support for our journalism is invaluable. Its a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.

The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.

We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.

Suresh Nambath

« Go back