The Central Goods and Services Tax (CGST) Chennai North Commissionerate has arrested the managing director of a copper wire manufacturing company for allegedly evading GST worth Rs 34.81 crore. The action followed extensive searches conducted on November 11 at G and T Pvt Ltd, a Vadaperumbakkam-based firm led by Prakash Kumar.
According to officials, the manufacturer suppressed a turnover of Rs 193.50 crore over a span of five years by selling copper winding wires and copper strips without issuing GST invoices. During the raids, officers recovered incriminating documents, digital records, cash slips, quotations, UPI and bank transaction details, all pointing to large-scale unaccounted sales. Investigators said Kumar received payments in cash and through online transfers routed via unregistered bank accounts of employees and other individuals. He reportedly confessed to the offence during interrogation.
Kumar was arrested under the GST Act and remanded to judicial custody till December 5. The department noted that this arrest comes shortly after another major GST fraud case in October, where officials busted a fake invoice racket involving bogus bills worth Rs 59 crore to facilitate wrongful input tax credit of Rs 10.64 crore across 19 firms.
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