K.M. Ravichandran, Commissioner of GST & Central Excise, Chennai South Commissionerate, has ordered the arrest of one person engaged in buying GST registrations for fictitious concerns by misusing KYC documents of other individuals, and then selling them to those involved in issuing fake invoices.
So far, the arrested person has bought five such concerns, passing fake credit to the tune of ₹44.29 crore, according to a statement.
The accused has been remanded in judicial custody.
Investigation is on, the statement added.