Assam: Two brothers arrested for Rs 100 crore GST fraud

Guwahati: The Directorate General of GST Intelligence (DGGI) Guwahati Zonal Unit in Assam has busted a fake invoicing racket worth Rs 100 crore.

The operation led to the arrest of two brothers, Aniket Sovasaria and Pritam Sovasaria.

The brothers, both tax accountants, allegedly operated over 20 fake firms from Guwahati to fraudulently claim and pass on fake Input Tax Credit (ITC).

They claimed a fake ITC worth Rs 14 crore and passed on a fraudulent ITC worth Rs 15 crore, resulting in a significant revenue loss to the exchequer.

According to reports, the accused issued fake invoices without supplying any goods or services, allowing others to claim illegitimate tax benefits. The officials are now working to trace the entire network and recover the lost revenue.

Both the accused have been remanded to judicial custody.