3 Arrested for GST Fraud Using 100 Fake Companies:

3 Arrested for GST Fraud Using 100 Fake Companies. In Noida, three men were arrested for a Rs 15,000 crore GST fraud discovered last June. So far, 44 people have been arrested in the case. The police first announced the bust of the gang involved in the fraud on June 1, 2023. The gang created many companies using stolen or fake identities. The gang used these companies to generate e-way bills and fraudulently claim input tax credit (ITC) from the government. According to DCP (Crime) Shakti Avasthy, the suspects—Shubham Jindal (30) and Tarunn Jindal (32) from Delhi, and Kaushik Jain (35) from Jaipur—were arrested by Sector 20 police at their homes. Their involvement was uncovered during the investigation, and they had been evading capture until now. In January, the police offered a reward of Rs.25,000 for catching them, the DCP mentioned. All three were involved in making fake companies, creating over 100 in the last two years. They made fake invoices and got tax credits. These fake companies were sold to businessmen who used them to claim GST tax credits, Avasthy explained. The suspects are facing charges under several sections of the Indian Penal Code, including 420 for cheating, 467 for forgery, 468 for forgery for cheating, 471 for using forged documents, and 120B for criminal conspiracy. The police revealed that the gang's fake companies conducted transactions with businesses in countries like Singapore, Vietnam, Taiwan, Thailand, and the Philippines.