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A major Goods and Services Tax (GST) evasion racket has been busted in Uttar Pradesh. The Special Task Force (STF) has found that a gang operating from Meerut was running 16 different firms through a single Yes Bank account in Delhi. All transactions of these firms were routed through the same account — and neither the bank nor the GST system detected the fraud in time.
According to investigators, between January 2023 and October 18, 2023, the account recorded transactions worth ₹268 crore. Officials estimate that the racket ultimately enabled GST evasion to the tune of nearly ₹500 crore.
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How the racket came to light
During investigation, STF officers discovered that an accused named Dilshad had opened the account at the Janakpuri branch of Yes Bank in Delhi. Later, this single account was linked to 16 different firms registered in various names.
The gang allegedly collected ID proofs, PAN cards and other documents of unsuspecting people. Using addresses picked from different districts, they prepared fake rent agreements and then used these forged papers to register companies.
Investigators also found that electricity bills submitted as address proof were fabricated, and most of the mobile numbers used for registration were pre-activated SIM cards, obtained through fake identities.
Bogus firms, single account — one big network
The firms identified so far include:
GP Traders, Harsh Traders, Inder Enterprises, Pal Enterprises, RK Enterprises, AS Enterprises, Rahul Enterprises, Marshall Impax Enterprises, AK Traders, Kumar Traders, Nelson Traders, Patel Enterprises, Datta Enterprises, KS Enterprises, AK Enterprises and Vikram Traders.
All of them were linked to the same Yes Bank account in Janakpuri.
These firms were allegedly used for fake billing, misuse of Input Tax Credit (ITC) and to show paper transactions as legitimate business activity — helping the gang evade huge amounts of GST.
STF action — 8 accused behind bars
On December 26, the STF arrested:
Dilshad, Ramesh Patel, Ankur Tiwari, Swatantra Kumar, Mohammad Wasim, Sohel, Javed and Ikramuddin.
Investigators say the gang systematically created shell companies, issued fake invoices, and siphoned off crores by manipulating GST claims.
So far, authorities have confirmed tax evasion exceeding ₹500 crore. Several more suspicious accounts and firms are now under scrutiny.
More names likely to surface
Officials believe that more people are involved in the racket — possibly including those providing technical support, bank-related help and identity documents.
Many suspects have already been identified, and their roles are being examined.
According to STF officials:
“The investigation is ongoing. More arrests will follow and the entire network will be exposed.”
Meanwhile, departments concerned are also reviewing why no alert was generated despite such high-value transactions, and which loopholes were exploited in the GST and banking systems.
Government agencies are now mapping bank transactions, GST returns and billing records to trace the entire financial trail — and initiate recovery of the lost tax revenue.
