Telangana Commercial Taxes Dept unearthed Input Tax Credit fraud of Rs 138 cr
On preliminary enquiry the fraud amounted to a tune of Rs.138 Crores, the department said in a release here on Wednesday.
The alleged offender was remanded to judicial custody today by Economic Offences Court, Nampally, Hyderabad.
Mr. Chanda Sai Kumar, resident of Jagitial , stealthily obtained GST login credentials of unsuspecting cancelled taxpayers, who have closed their businesses long ago. Then he used their logins to generate fraudulent transactions to various businesses.
This ITC was later used by these businesses to evade payment of taxes.
This case was detected by Joint Commissioner (ST), Karimnagar, who escalated the matter to Commissioner, SGST, Hyderabad.
The State Enforcement Authorities conducted searches in 2 premises and recovered leads from these searches.
