AI tool flags suspected ₹5,700 cr GST fraud involving 1,500 firms

Innefu Labs, an Indian AI company, has identified a suspected GST fraud network involving over 1,500 businesses and potentially fraudulent ITC worth ₹5,700 crore. Its platform detected links between the businesses by analysing GST, identity and transport data across jurisdictions. The suspected transactions occurred within one financial year, but the estimated fraud is yet to be verified.