CMD held for fake GST refund claims of over ₹11 crore

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GST Chennai South Commissionerate has arrested Arul Kumaran, Chairman, and MD of Royal Meridian Impex Pvt Ltd., who was allegedly made fraudulent refund claims to the tune of ₹11.05 crore through fake exports and by creating fake companies. Kumaran in connivance with Lokesh Chopra of Indore and Raju Bhai of Surat was involved in availing input tax credit fraudulently and using the same to fake exports to claim integrated goods and services tax refund of ₹5.57 crore.

He created fake companies to claim similar fraudulent IGST refund amounting to ₹5.48 crore, the statement added. On the authorisation of K.M. Ravichandran, Commissioner of GST, a team made the arrest. The accused was presented before Judicial Magistrate, Economic Offences-I, Egmore, and remanded in judicial custody till July 2, it added. Investigation is on, the statement said.

Read More at: https://www.thehindu.com/news/national/tamil-nadu/cmd-held-for-fake-gst-refund-claims-of-over-11-crore/article28090683.ece