CA Student commited GST fraud of Rs 50 crore

A 25 year old CA(Chartered Accountancy) student committed GST(Good Sercice Tax) fraud of Rs 50 crore.

CA Student commited GST fraud of Rs 50 crore

After this GST fraud of Rs 50 crore, CGST-II(GST officials) arrested this 25 year old boy for committing fraud to the tune of Rs 50.24 crore through Input Tax Credit (ITC) facility.

‘Prince Kumar Khatri’ who lives in Vadodara, Ahmedabad have committed this GST fraud by creating fake companies and Firms.

GST officials said Khatri had created more than 115 fake firms for executing this fraud. “He made fake invoices to generate ITC amounting of Rs 50.24 crore”, they added.

And this illegal and fake credits was eventually passed on in chains to other fake firms without any actual supply of goods and services.

Khatri used to work for a firm and dealt with several companies. After arrest he confessed that he made a fake web or fake firms to benefit some existing and real companies.

Actually Khatri used identity cards of villagers from Dahod and Ahmedabad to create the fake firms. He had promised the villagers a monthly payment of cash.

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