Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Beverage Company Executives in Vadodara Arrested for Rs. 40 Crore GST Fraud Involving Fake Invoices and Shell Companies.</h1> Top management of a beverage company in Vadodara was arrested for involvement in a fake invoice GST fraud. Authorities conducted searches on multiple premises, uncovering a scheme involving the creation of fake units to fraudulently claim tax credits, resulting in a tax evasion of Rs. 40 crores and a turnover of approximately Rs. 300 crores. The company's managing director, his brother, and the CFO were detained. The company is publicly listed with a market capitalization of Rs. 1200 crores. The investigation revealed over 30 fake units nationwide, with ongoing efforts to identify the fraud's ultimate beneficiaries and associated shell companies.