The GST and Central Excise Department, Chennai North, has arrested a 58-year-old director of a metal scrap trading firm in Chennai for committing GST credit fraud to the tune of ₹26 crore.
This is the fifth such arrest made by the Department.
The arrested person was produced before the Additional Chief Metropolitan Magistrate, Egmore, and later remanded in custody till January 4.
ADVERTISEMENT
According to a press release, he was the main beneficiary of the fraud. By colluding with fictitious companies, he obtained bogus tax invoices without receiving any goods or services.
This is a Premium article available exclusively to our subscribers. To read 250+ such premium articles every
month
You have exhausted your free article limit.
Please support quality journalism.
You have exhausted your free article limit.
Please support quality journalism.
The Hindu operates by its editorial values to provide you quality journalism.
You have read {{data.cm.views}} out of {{data.cm.maxViews}} free articles.
This is your last free article.