The Department of Trade and Taxes of the Delhi government has unearthed a massive GST refund fraud amounting to Rs. 14 crore.
Acting on the findings, Delhi Police confirmed that one of the main accused individuals has been apprehended in connection with the case.
According to officials, the investigation exposed a well-coordinated network of individuals who had floated and managed four fictitious firms. These entities were allegedly set up with the sole objective of fraudulently claiming GST refunds by projecting fake business transactions.
Authorities revealed that the fraudulent firms were masked as legitimate business operations to evade detection and siphon off substantial amounts of public revenue under the pretense of input tax credits.
This case is being hailed as a landmark for the department, marking the first time that sophisticated big data analytics tools were employed to trace and crack down on such fraudulent activities. Officials highlighted that the use of advanced data analysis played a crucial role in identifying inconsistencies and uncovering the scam.
An FIR has been registered with the Economic Offences Wing, and further investigation is underway to trace the remaining members of the fraud syndicate and recover the embezzled amount.
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