Bengaluru: In one of the biggest Goods and Services Tax (GST) fraud reported from across the country, tax officers have arrested three persons in Bengaluru for allegedly cheating the state exchequer to the tune of Rs 1,200 crores.
According to the commercial tax department officers, who are investigating the case with the help of central authorities, these three persons were evading tax by creating fake invoices.
“To avail input tax credit, the three were preparing fake invoices. They were engaged in the iron and steel business. Fake companies were registered for this purpose. We have traced at least 20 such fake companies,” said G Narayanaswamy, central tax commissioner.
“The arrested trio is a part of this racket. The whole scam is just the tip of the iceberg. We are carrying out further investigation,” he added.
