ACB Arrests Two More in GST Fraud Case Linked to 500 Non-Existing Firms

• In 2021, fraudulent GST refunds were approved without verification of input tax credit
• Around 500 non-existent firms were involved in claiming bogus GST refunds
• ACB arrested two more accused in the scam related to fraudulent GST refunds
• The arrested accused include an accountant and a chartered accountant
• Fraudulent GST refunds worth Rs 54 crore were granted to fake firms
• Further investigation is ongoing to uncover the involvement of other officials, proprietors, and transporters

Source: indiatvnews.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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