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7 Arrested for Rs 900 Crore GST Scam Involving 48 Shell Companies
Update / Judgement Date
26 Sept 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Criminal LawGSTMoney Laundering (PMLA)
Seven individuals were arrested in Uttar Pradesh for orchestrating a GST fraud involving 48 shell companies and fake invoices worth Rs 900 crore. The scam resulted in a government revenue loss of Rs 135 crore. The accused, including four scrap business owners, used stolen or misused KYC details to create fake companies and bank accounts, issuing fraudulent GST invoices without actual goods movement. The investigation is ongoing to uncover the full extent of the operation and additional individuals involved.
