Quick Summary
The State tax department conducted raids in two firms located in Mahuakheda Ganj industrial area of Kashipur for the goods and service tax (GST) evasion of over Rs five crore. Both firms are involved in the business of battery scrap recycling and the departments team raided both premises on Tuesday, as per the officials. They said that the authorities concerned were monitoring the transactions of these two firms for the past few days. It was revealed that both firms allegedly adjusted their G
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The State tax department raided two firms for alleged Goods and Services Tax (GST) evasion exceeding £5 crore.
Both firms are involved in the battery scrap recycling business.
They allegedly adjusted their GST liability by claiming bogus Input Tax Credit (ITC) using bills from non-existent firms and creating fake e-way bills for empty or unrelated goods.
The estimated GST evasion is over £5 crore.
Yes, the firms deposited nearly £1 crore in GST during the investigation on Tuesday.
Yes, the department is monitoring other firms for potential tax evasion and will take strict action against them.
CAclubindia
