NEW DELHI: GST authorities have unearthed a tax racket and arrested one person for allegedly defrauding the Government to the tune of about Rs 140 crore through fraudulent means.
The Central Board of Indirect Taxes and Customs (CBIC) in a release said that the Central GST Delhi North Commissionerate has unearthed a racket “involving supply of goods-less invoices and invoice-less goods”.
One person has been arrested in the connection and sent to judicial custody for 14 days.
The accused was found to be operating 10 fake firms which were created for rotation of money and fraudulent Input Tax Credit (ITC), thus defrauding the exchequer. (AGENCIES)
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