Delhi Govt. Uncovers ₹14 Crore GST Refund Scam Using Fake Firms and PANs
So far, Rs 1.16 crore has been recovered. Recovery efforts are ongoing, and 45 bank accounts related to 27 entities have been frozen to stop further fund movement
The Department of Trade and Taxes, Government of Delhi, has uncovered a Goods and Service Tax (GST) refund fraud of nearly Rs 14 crore involving four fake firms. These firms were created to illegally claim refunds by posing as legitimate businesses. This is the first time the Department used advanced big data analytics and chain analysis including a close look at banking transactions...
The Department of Trade and Taxes, Government of Delhi, has uncovered a Goods and Service Tax (GST) refund fraud of nearly Rs 14 crore involving four fake firms. These firms were created to illegally claim refunds by posing as legitimate businesses.
This is the first time the Department used advanced big data analytics and chain analysis including a close look at banking transactions to track the money trail. The investigation revealed connections between various entities in Delhi, other Indian states, and even overseas locations like Hong Kong and Singapore.
An FIR has been filed with the Economic Offences Wing (EOW) of Delhi Police. One key accused, Bunty owner of one of the fake firms, has been arrested and is in police custody. More arrests are likely.
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