Quick Summary
In a major crackdown on tax evasion, Gujarat's state GST department has unearthed tax fraud amounting to over Rs 48 crore during a search and seizure operation targeting 14 copper trading firms. Key Developments Arrest of Fortune Copper Industries Partner: Sandeep Anwar Virani, a partner at Surat-based Fortune Copper Industries, was arrested for his alleged involvement in evading Goods and Services Tax (GST) of Rs 19.5 crore. The court of the Chief Judicial Magistrate has remanded Virani
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FAQ :
The Gujarat state GST department has uncovered tax evasion amounting to over Rs 48 crore.
Fourteen copper trading firms were targeted in the search and seizure operation.
Sandeep Anwar Virani, a partner at Surat-based Fortune Copper Industries, has been arrested.
The firms engaged in large-scale tax evasion by recording bogus purchases of copper, utilising four fake entities.
Input Tax Credit (ITC) worth Rs 1.93 crore has been blocked, and assets valued at Rs 4.46 crore have been attached.
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