GST officers arrest one for Rs 39 crore ITC fraud SECTIONS Last Updated: Mar 02, 2021, 06:45 PM IST Share Synopsis Investigation revealed that the multilayered network was being operated by one Nihaluddin who has confessed to having created a fake firm in his own name and also arranging ITC from 38 other fictitious firms on commission basis to pass on fake ITC to multiple beneficiaries. Getty Images GST officers have arrested a person for creating a fake firm and fraudulently passing on input tax credit (ITC) worth Rs 38.91 crore, the Finance Ministry said on Tuesday. Investigation revealed that the multilayered network was being operated by one Nihaluddin who has confessed to having created a fake firm in his own name and also arranging ITC from 38 other fictitious firms on commission basis to pass on fake ITC to multiple beneficiaries.