Two held for GST evasion of Rs 66 crore

CHENNAI: Two persons were arrested in connection with GST evasion of Rs 66.83 crore in North Chennai on Tuesday.

Gidilari Srinivasulu and B Rupus are directors of Medley Merchandise Pvt Ltd and DB Merchandise Pvt Ltd, who were found to be involved in preparing fake invoices for purchase and sale of goods and receiving commission or claiming input tax credit. 

GST and rxcise commissioner of Chennai North M Sreedhar Reddy said the two directors would received invoices without any goods and availed input tax credit worth Rs 34.47crore. “The two also issued fake invoices without supply of any goods and made the receivers avail input tax credit worth Rs 32.36 crore. The two directors received commission both from the seller and the buyer,” said Reddy.

The searches started at the two companies on Monday morning and ended on Tuesday evening with the arrest of the two. The GST commissionerate in Tamil Nadu and Puducherry had detected tax evasion to the extent of Rs 569 crore in 169 cases since July 2017 when GST was implemented.

Source- Times of India.

The post Two held for GST evasion of Rs 66 crore appeared first on GST Station.



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