Latest News | GST Officers Arrest One for Rs 94 Cr ITC Fraud

New Delhi, Mar 26 (PTI) GST officers have arrested a person for creating fake firms and fraudulently passing on input tax credit (ITC) worth Rs 94 crore, the Finance Ministry said on Friday.

Investigation revealed that the multi-layered network was being operated by one Krishan Kumar, it said.

"During the search of his residence, incriminating documents like ATM cards, signed cheques, bank documents, stamps of these dummy firms including stamp of the transport company as mentioned in the e-way bills of the fake firms and outer packets/cases of SIM cards of mobile phones used for registration of firms were recovered," it said.

In 2020-21, CGST Delhi Zone has made total 40 arrests in various cases involving GST evasion amounting to Rs 5,310 crore, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)