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A Delhi-based businessman, his wife, and son were arrested in connection with a multi-crore GST scam. The family allegedly created fake companies to claim a significant amount as input tax credit over the past few years. More than 40 people have been arrested in this case so far.
Noida Police arrested four individuals from Delhi in connection with a GST fraud case. The total number of arrests now stands at 29. The police discov
India's Goods and Services Tax (GST) regime needs to plug leakages that cause tax evasion, which has increased in recent years despite stable collections, officials have said. The number of cases of GST evasion detected has increased to about 14,000 this year from 12,574 in 2021-22 and 12,596 in 2020-21. The growing evasion will, however, fuel further growth of GST collection if it can be stopped through efforts such as the use of end-to-end analytics examining entire supply chains and gap analyses of taxes paid in those chains.
Indian GST officers have uncovered two fraudulent billing syndicates comprising 246 fake entities that were involved in passing input tax credit worth $74.3m. The officers have arrested three men, and discovered forged stamps, debit and credit cards, chequebooks, Aadhaar cards and PAN card.
ED uncovered a staggering sum of over Rs 1,102 crore in fake invoices, exposing an evasion of GST worth Rs 122 crore.