Tax consultant arrested on charge of ₹274 crore GST fraud

The GST and Central Excise Department, Chennai Outer, has arrested a tax consultant from Pernambut, Vellore district, for allegedly committing GST fraud by issuing fake invoices to the extent of ₹274 crores and passing on illegal and unlawful input tax credit to the extent of ₹22.12 crore.

The arrest was made after carrying out detailed investigations and conducting multiple searches to gather evidence, according to an official release.

The case against the arrested person is that he, along with some accomplices, had taken GST registrations by misusing KYC documents of other persons for creating fictitious companies.

He was also acting as a tax consultant to prepare all the documentation, including invoices for these fictitious companies, it added.

These fictitious companies issued tax invoices to various business entities without actual supply of goods or services to facilitate, for a commission, fraudulent availment of GST credit by these business entities, according to the release.

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Printable version | Mar 6, 2021 1:26:32 AM |

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