Two traders arrested for Rs 50 crore IGST refund fraud

MUMBAI: The Belapur Central GST Commissionerate arrested two traders for allegedly floating over 50  shell companies to fraudulently to avail IGST refunds after GST council recently issued guidelines to curb refund related frauds, people in the know told ET. Sources said Ajay Gopinath Mishra and Ramesh Chandra Bhatt availed IGST refund by showing export of textile goods over Rs 350 crore and…