The Directorate General of GST Intelligence (DGGI) Visakhapatnam Zonal Unit has arrested Aboobakr Siddique Syed, a native of Pernambut, Vellore, for his alleged role in a massive GST input tax credit fraud involving fake invoices worth Rs643.81 crore. The fraudulent activities caused a significant loss of Rs115.88 crore to the government exchequer.
According to officials, the accused orchestrated a sophisticated scheme that involved creating multiple shell companies by using stolen identities of unsuspecting individuals. This network operated across Andhra Pradesh, Tamil Nadu, and Karnataka, facilitating the generation of fake invoices to claim undue GST credits and evade taxes.
The arrest marks a crucial step in the DGGI’s ongoing efforts to curb tax evasion and protect the government’s revenue system.
