GST Department arrests Iron Scrap Trader for GST Fraud of Rs.10 Crore

A city-based trader has been arrested by the Ministry of Finance’s GST investigation wing under the revenue department on allegations of over Rs. 10 crore in GST tax fraud.

Amit Agarwal, also known as Vicky Bhalotia, a resident of Jugsalai, is charged with input tax credit (ITC) fraud involving over Rs. 10 crore. He appeared before a judge on Monday, after which he was sent to jail.

Under the condition of anonymity, a GST official stated, “The amount of money involved in ITC fraud could increase further as a detailed investigation into his business network spread across Bengal, Odisha, Tamil Nadu, Delhi, and Chhatisgarh is being probed.”

Senior officials of the Directorate General GST (investigating wing), Patna circle, gave the order to arrest the trader. Four days after his seven locations throughout the city were searched, he was taken into custody.

A group of GST officers raided Bhalotia’s home at Firangi Chowk on December 7. Although his four associates’ homes were searched as well, no one has been taken into custody. According to tax officials, the merchant did not assist the team during the entire search and questioning process.