The GST and Central Excise Department, Chennai Outer, has arrested a 56-year-old person from Kodungaiyur, for committing a GST credit fraud of ₹107 crore.
He was arrested and produced before the Economic Offences Judge-II, Egmore, and remanded to judicial custody till September 29, according to a statement.
The case is that the accused along with a few others had taken GST registration in the name of persons with non-existent addresses using doctored documents. The purpose of floating such fictitious companies is to commit GST credit frauds, it added.
In the process, GST credit fraud to the tune of ₹107 crore on invoice value of ₹740 crore was committed by the accused along with his accomplices, the statement said.
The department is on the lookout for his accomplices and has identified all those involved. Further investigations are on.
