CA student creates 115 fake companies to commit ₹50 cr GST fraud, held

GST officials have arrested a 25-year-old student of Chartered Accountancy (CA) for allegedly floating over 115 fake firms to avail Input Tax Credit of ₹50.24 crore. A resident of Ahmedabad, the accused used identity cards of villagers to create the fake companies. The illegal credit was passed on in chains to other fake firms without any actual supply of goods.

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