2 arrested for siphoning off over 11 crore in interstate GST fraud - The Times of India

Hyderabad: The Economic Offences Wing (EOW) of the Cyberabad police has arrested two individuals for allegedly siphoning off 11.79 crore in fraudulent input tax credit (ITC) by floating a web of shell companies with addresses across eight states.Acting on a complaint from the commercial tax department, the EOW had registered a case on Sept 3 against two private companies, a truck owner and others…