ED Arrests Jamshedpur Trader Gyan Chand Jaiswal and Son in Multi-Crore GST Scam

Times of India · business

The Directorate of Enforcement (ED) has arrested Jamshedpur-based scrap dealer Gyan Chand Jaiswal and his son, Raj Jaiswal, in connection with an alleged multi-crore fake GST Input Tax Credit (ITC) scam. Searches were conducted at multiple locations in Jamshedpur, Deogarh, and Kolkata. The ED seized financial documents, invoices, and digital data. The investigation is probing the alleged role of a chartered accountant in generating fake invoices worth around Rs 5,000 crore through 37 shell companies. The accused have been forwarded to judicial custody.