Directorate-General of GST Intelligence (DGGI), Chennai Zonal Unit, has busted a fake Input Tax Credit racket running into ₹175 crore involving 59 companies. The taxable value was ₹973.64 crore.
A 34-year-old resident from Chepauk, the mastermind behind the scam, was nabbed at the Bengaluru airport during his attempt to flee the country and subsequently arrested, according to a statement from DGGI, the apex intelligence and investigative agency for matters relating to violation of the GST.
