Karimnagar: In a major crackdown on tax evasion, Karimnagar's commercial tax department unearthed a staggering Rs. 138 crore input tax credit (ITC) fraud and apprehended the mastermind behind it.
The accused, Chanda Sai Kumar from Jagtial district, allegedly swindled the system by acquiring GST login credentials of defunct businesses. Using these stolen identities, he created fake transactions and claimed fraudulent ITC, enabling him to evade a whopping Rs. 138 crore in taxes.
Karimnagar's GST department officials, upon detecting the anomaly, swiftly alerted the commissioner in Hyderabad. The state enforcement authorities promptly launched a thorough investigation, conducting searches at Kumar's premises and gathering crucial evidence.
Armed with irrefutable proof, the authorities apprehended Kumar under Section 69 of the GST Act. He was subsequently produced before the Honorable Economic Offences Court at Nampally in Hyderabad, which remanded him to judicial custody.
