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4w ago

Delhi GST Department Busts ₹14 Crore Fake Refund Network, Freezes 45 Bank Accounts

Data analytics led to a key arrest with registrations suspended to curb the illicit ₹14 crore refund scheme

45 bank accounts linked to 27 implicated entities have also been frozen. An FIR has been lodged with the Economic Offences Wing (EOW). (Representational image)

Overview

  • Investigators uncovered four fictitious firms set up to claim bogus GST refunds under the guise of genuine business activities
  • One suspect, identified as proprietor Bunty, was arrested and ₹1.16 crore has been recovered with efforts ongoing to retrieve the remaining funds
  • Authorities have frozen 45 bank accounts linked to 27 implicated entities to halt further diversion of illicit proceeds
  • The department shared evidence with state authorities, flagged and blocked related PANs and lodged an FIR with the Economic Offences Wing of the Delhi Police
  • Money trails traced to Hong Kong and Singapore have prompted a detailed report to the Department of Revenue for international follow-up