3 Gang Members arrested in GST Fraud of Rs.10000 Crore:

3 Gang Members arrested in GST Fraud of Rs.10000 Crore Noida Police detained three more members of a gang reportedly involved in a Rs.10,000 crore GST Fraud that came to light in June last year. The total number of people apprehended in the case is now 44. According to authorities, the suspects have constructed at least 100 bogus firms in the last two years in order to fabricate fake invoices and claim input tax credits on them. Officers said they sold these firms to businessmen who intended to dodge taxes by claiming GST input tax credits on the bogus firms. The individuals apprehended were Shubham Jindal, 30, Tarunn Jindal, 32, and Kaushik Jain, 35. "The three were apprehended by the Sector 20 police unit on Saturday at their houses. Their identities were discovered during the fraud probe, and they have been on the run ever since. The commissioner declared a reward of Rs.25,000 on each of them in January," said Shakti Avasthy, deputy commissioner of police (crime). On June 1, 2023, the Noida police claimed to have apprehended a gang accused of carrying out a Rs.10,000 crore GST scam. The gang's plan entailed registering hundreds of companies under stolen or fictitious names and using these organizations to generate e-way bills and claim input tax credit (ITC) from the government. E-way invoices are those carried by the person in charge of the conveyance transporting any consignment of goods worth more than Rs. 50,000. The ITC is the tax that a firm must pay on a purchase and can use to lower its tax liability during a sale.