India News | C'garh: Businessman Held for GST `evasion'

Raipur, Jul 13 (PTI) A businessman was arrested here on Tuesday for allegedly evading Goods and Services Tax (GST) of Rs 7.26 crore, an official said. Sunil Agrawal, partner of M/s Shri Shyamji Industries, was arrested by a team of the Central GST and Central Excise, Raipur, he said.

Searches were carried out at the office of Shri Shyamji Industries located in a commercial complex in Raipur's Fafadih area and its factory at Donde Kalan, and several documents were seized, the official said. Shri Shyamji Industries seemed to have wrongly availed of Input Tax Credit of Rs 3.22 crore on the basis of bogus invoices and shifted goods without payment of GST of Rs 4.04 crore, he said. In total, GST of Rs 7.26 crore was allegedly evaded by the firm, according to the official. "During the investigation it was found that Shri Shyamji Industries had availed of Input Tax Credit on bogus invoices valued at Rs 17.88 crore of various non-existent fake firms....Agrawal also cleared goods without issuing invoices with the intention of GST evasion,” the officer claimed. He was arrested under the CGST Act and a court remanded him in 14 days' judicial custody, the officer said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)