Quick Summary
The Directorate General of GST Intelligence (DGGI), Chennai recently carried out coordinated search operations against three major taxpayers involved in the supply of TMT Bars. The investigation has revealed that these entities were engaged in the illegal clearance of TMT bars without proper invoice
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FAQ :
The DGGI discovered a GST evasion of approximately Rs 150 Crore related to the illegal clearance of TMT bars by three major taxpayers.
They engaged in the illegal clearance of TMT bars without proper invoices, received payments in cash, and did not report these transactions to the GST authorities.
The estimated amount involved in these fraudulent transactions was Rs 834 Crore.
The fraudulent activities were planned and executed from a secret location away from the registered business premises to avoid detection.
Incriminating documents were seized, three people were arrested, and further investigation is ongoing.
This crackdown is a significant achievement for the DGGI, reinforcing compliance with GST regulations and sending a strong message against tax evasion.
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