DGGI uncovers Rs 3,200 cr GST fraud, two held
GST
Dated:- 29-1-2025
PTI
Bengaluru, Jan 29 (PTI) The Directorate General of GST Intelligence (DGGI) in Bengaluru has uncovered a massive GST fraud amounting to Rs 3,200 crore and arrested two people in connection with the case.
A third suspect remains at large, Sucheta Sreejesh, Additional Director General of DGGI Bengaluru zone, said in a statement.
The DGGIÂ’s Bengaluru zonal unit conducted searches at more than 30 locations across Bengaluru and Mumbai, uncovering a complex scam.
The accused created bogus companies with no legitimate business operations, engaged in circular trading to inflate turnover, listed these companies on stock exchanges, and facilitated the fraudulent a
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the share price, sell the shares subsequently and exit the company, duping common public of their money invested in shares of such companies,” the statement said.
The probe also revealed that GST returns for most of these companies were filed from common IP addresses, suggesting that they were all operated by the same accused.
Further searches at the companies' premises uncovered original documents such as invoices and financial records, stored across several locations, indicating that the same individuals were managing the affairs of multiple companies.
“Considering the magnitude of the fraud and its impact on the common public, the Directorate General of GST Intelligence, Bengaluru Zonal Unit has initiated thorough investigation in
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