Two men arrested in Noida for claiming Rs 3.42 crore GST refunds for fictitious firms

The police said that the two accused had used forged Aadhaar cards, PAN cards, rental agreements, and other fake identity proofs to fraudulently register multiple businesses on the Udyam portal for micro, small and medium enterprises (MSME).

“They opened current accounts in different branches across Ghaziabad and Gautam Buddh Nagar under fictitious firm names to receive illegal GST refunds, which were immediately transferred to other accounts to conceal the trail,” read a police statement.

All accounts were opened using fake know-your-customer (KYC) documents featuring photographs of the accused under different identities. These accounts were then allegedly used for fraudulent GST refund claims amounting to Rs 3.42 crore in recent months.

“The accused operated using nine mobile numbers to receive one-time passwords (OTPs) during account and registration processes. Analysis revealed that these numbers were used across 18 IMEI numbers, and collectively 87 mobile numbers were linked to the registration of 85 fake firms. These firms collectively claimed approximately Rs 51 crore in Input Tax Credit (ITC) and issued bills totaling nearly Rs 350 crore over the past five years, causing massive losses to government revenue,” the statement further said.

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