GST officials raid steel trader, unearth tax evasion of crores

    RAIPUR: The enforcement wing of the state Goods and Services Tax (GST) department unearthed tax evasion allegedly worth several crores of rupees by a Raipur-based steel trader having a business turnover of Rs 840 crore.

    GST sleuths seized bogus e-way bills worth Rs 2.5 crore from the premises of a steel trader at Ashoka Millenium Complex in New Rajendra Nagar on late Saturday evening.

    An eight-member team led by joint commissioner Gopal Verma, conducted the search operation. He told TOI that the search operations are expected to continue till Monday evening.

    As per GST sleuths, the search operation started on intelligence inputs which indicated the mismatch between the firm’s turnover of Rs 840 crore in comparison to GST paid of only Rs 40 lakh. The GST sleuths have impounded incriminating documents from the office including laptops, desktops, financial documentation and relevant details from the trader’s office.

    The firm was allegedly involved in generating bogus e-way bills to evade GST liability to the state. The GST department indicated that it will rope in income tax department and other investigation agencies after concluding the search.

    Source- Times of India.

The post GST officials raid steel trader, unearth tax evasion of crores appeared first on GST Station.

Click here for more...
from #Bangladesh #News aka Bangladesh News Now!!!


Popular posts from this blog

Caution Compliance Companies continues to con Florida corporations


Consequences of incorrect invoice details uploaded while filing GSTR 1