Rs 1,420cr GST fraud racket busted; 2 arrested in Bengaluru - The Times of India

Bengaluru : Cracking down on GST fraud, the commercial taxes department unearthed a fake input tax credit (ITC) racket involving suspicious transactions worth nearly Rs. 72,384 crore and fraudulent claims amounting to Rs.1,420 crore. Two key accused were arrested in Bengaluru, taking the total number of arrests made by the department in fake ITC cases this year to seven.According to sleuths, the a…