Earlier in the investigation, two businessmen from Haryana, Ajay Sharma (28) and Sanjay Jindal (38) from Sonipat, were arrested for their roles in this fraud case.
A Delhi-based businessman, Tushar Gupta, aged 39, has been apprehended by the Noida police in connection with a massive Rs 15,000 crore GST fraud that came to light recently, as reported by TOI. Gupta, residing in Tilak Nagar, was arrested as the 33rd suspect in this case, shedding light on a sophisticated network of deception.
Exploiting Input Tax Credit (ITC) Through Fake Companies
Gupta’s alleged involvement in the scam revolves around the exploitation of input tax credit (ITC) using 35 fictitious companies, leading to an estimated loss of Rs 24 crore to the exchequer over the span of two years. The elaborate scheme involved the creation of over 3,300 shell companies, bolstered by counterfeit documents such as Aadhaar cards, PAN cards, rental agreements, and even falsified electricity bills.
Syndicate Operations and Arrest
Reports indicate that Gupta was part of a syndicate that orchestrated the fraud, utilizing these front businesses to generate e-way bills essential for the transportation of goods or services while claiming ITC in the process. Following the revelation of the scam in June last year, police teams have been tirelessly working to dismantle the intricate web of culprits behind the operation.
DCP (crime) Shakti Avasthy highlighted the diligent efforts of the police, stating, “Our teams have been relentless in tracking down the accused who reaped the benefits of this fraudulent network.” Gupta was apprehended from Tilak Nagar by a team from the Sector 20 police station and subsequently sent to judicial custody.
Previous Arrests and Modus Operandi
Earlier in the investigation, two businessmen from Haryana, Ajay Sharma (28) and Sanjay Jindal (38) from Sonipat, were arrested for their roles in the fraudulent scheme involving the misappropriation of ITC. Sanjay, the proprietor of Brownie Metal and Alloys Pvt Ltd, allegedly used bills from 20 fictitious firms to claim ITC worth Rs 17 crore, while Ajay, owner of Crystal Industries, claimed ITC exceeding Rs 8.5 crore using bills from 6 fake companies.
Legal Action and International Links
Gupta, identified as being in the packaging business, was interrogated by GST officials in July last year. He faces charges under various sections of the Indian Penal Code related to cheating and forgery, alongside 32 other individuals implicated in the case.
It was revealed earlier that some of the shell companies involved in the fraud had engaged in transactions with entities across multiple countries, including Singapore, Vietnam, Taiwan, Thailand, and the Philippines.
Conclusion
The arrest of Tushar Gupta sheds light on the complexity of the Rs 15,000 crore GST fraud, revealing a network of fake companies and forged documents used to exploit the system. As investigations continue, authorities aim to bring all involved parties to justice and prevent similar fraudulent activities in the future.
To Access the CBIC Notification 8/2024-Central tax CLICK HERE
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