Meerut (UP), April 6 Police in the Meerut district have arrested a member of a gang, uncovering a multi-crore GST fraud racket, officials have said.
The accused had accumulated input tax credit (ITC) by generating fake invoices through fictitious companies, causing a revenue loss of approximately Rs 17 crore to the government, police said on Sunday.
The investigation revealed that members of the gang used fake Aadhaar and PAN cards to set up companies and evaded taxes by filing fraudulent GST returns. Furthermore, they resorted to tax evasion through the manipulation of e-way bills.
Acting on a tip-off and technical evidence, police arrested Wasim Akram alias Monu (38), from Ghaziabad district in Uttar Pradesh. During interrogation, he confessed to having committed fraud through fake companies in collusion with his accomplice.
Police said that efforts are underway to apprehend the other accused involved in this case.