CGST arrests 4 in Gurugram ₹200cr input tax credit fraud
A major GST scam just got busted in Gurugram: two former startup founders and two chartered accountants were arrested for running a ₹200 crore input tax credit fraud.
They set up nearly 30 shell companies to create fake GST invoices, claiming tax credits without any real business happening.
The CGST team caught them, stopping what could've been an even bigger loss to public funds.
Gurugram GST suspects remanded 14 days
The four have been sent to jail for 14 days while the investigation continues.
After six to eight months of digging through records and company data, officials say the suspects admitted their role when shown the evidence.
Authorities are now checking if this scam was also meant to boost the startup's valuation before an IPO or stake sale.
No money has been recovered yet, but this case is a wake-up call for tighter checks on GST transactions.