GST Investigation Wing detected GST ITC Fraud worth Rs.171 Crore; Mastermind arrested:

GST Investigation Wing detected GST ITC Fraud worth Rs.171 Crore; Mastermind arrested The Directorate General of GST Intelligence (DGGI) of Visakhapatnam Zonal Unit investigating a major GST evasion case, arrested Maddi Prasad in Karnataka for his involvement in a GST fraud involving fake invoices totalling Rs.171.45 crore. The fraud led to a tax evasion of Rs.30.85 crore in Goods and Services Tax. Maddi Prasad is a key individual involved in the supply of wood to plywood industries in Visakhapatnam and in Bangalore. The arrest followed an investigation by tax authorities, who discovered inconsistencies in the supply of non-existent goods. The accused utilised fraudulent invoices to falsely claim input tax credits, evading a significant amount of tax liability. The officials further alleged that the fraudulent invoices were received by enterprises owned by Prasad and his family members, but no goods were actually delivered. According to officials, Prasad was arrested under Section 69 of the CGST Act of 2017 and taken before the Special Judge for Economic Offences Court in Visakhapatnam.