Fake Firm Unveiled: Three Arrested in GST Evasion Scam
The Uttar Pradesh Police arrested three individuals for allegedly causing a government loss of Rs 37 lakh by evading GST. Using forged documents, the accused set up a fake firm, availing wrongful input tax credit and conducting transactions worth Rs 4.70 crore. Further investigation is ongoing.
- Country:
- India
In a significant breakthrough, Uttar Pradesh Police have apprehended three individuals linked to a fraudulent GST evasion scheme that purportedly resulted in a loss of approximately Rs 37 lakh to the government. Officials revealed that the accused established a sham company, K S Enterprises, through forged documents, including a counterfeit electricity bill.
The operation came to light following a complaint by Deputy Commissioner Ashok Kumar Tripathi in November. The firm fraudulently obtained GST registration for trading ferrous waste and scrap, managing transactions worth Rs 4.70 crore and causing a substantial dent in the government's revenue through wrongful input tax credit claims.
The police detained residents Deepak Kumar and Prashant Tiwari alongside Kailash Maurya, revealed as key players in orchestrating the fraud. Investigations are ongoing to locate further absconding individuals fingered in the scam, as authorities continue to assess the broader implications of this fraudulent operation.
Google News