A breakthrough in the Goods and Services Tax (GST) fraud story came on Wednesday when the Noida Police reported the arrest of two prominent Haryana businessmen who are thought to be the masterminds behind the massive revenue losses to government officers.
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What did the Noida Police say on this case?
According to a senior police officer, the accused, who operate in the metal scrap sector, have jointly cost the exchequer almost ₹ 25 crore in revenue losses. In June 2023, a case surfaced known as the “GST scam,” involving the loss of revenue to the exchequer due to thousands of fraudulent enterprises utilizing fake documents to file for input-tax credits (ITCs).
According to sources, the police investigation has revealed the involvement of hundreds of fraudulent organizations and transactions totaling over ₹10,000 crore by those entities. To date, authorities have arrested over two dozen people in connection with this case.
A few months ago, a squad from Noida’s Sector 20 police station uncovered a scam and detained some culprits who were reportedly behind floating around 2,600 fraudulent firms, according to Deputy Commissioner of Police (Crime) Shakti Mohan Avasthy.
Avasthy, who has spearheaded the inquiry since its inception, noted that both suspects are wealthy entrepreneurs with extensive business operations in Sonipat. Jindal and Sharma, sought by the Noida Police for an extended period, were each subject to a reward of ₹25,000 for information resulting in their apprehension, according to the Deputy Commissioner of Police (DCP).
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