Ghaziabad Company under scanner for Rs. 10 Crore GST Evasion:

Ghaziabad Company under scanner for Rs. 10 Crore GST Evasion A company located in Ghaziabad's industrial area has come under investigation for allegedly major tax evasion case worth Rs. 10 crore. The Special Investigation Branch ( SIB) of the commercial tax department found this while doing a detailed inspection based on specific intelligence inputs. The company deals in the manufacturing and trading of gear, gearboxes, bearings, machinery parts, tools, and environmental gear. During the investigation, the investigator found that the company was doing an unauthorized sale without maintaining proper records. The company had not maintained a stock register and failed to present valid e-way bills for the goods being transported. It was also disclosed that many employees were unaware about the company's transactions and was unable to provide information regarding the business operations or the proprietor. This raised questions about the legitimacy of the operations. Also, a mismatch of Rs. 3 crore was found between the TDS amount reported to the government departments and the turnover given by the company, these raised suspicions regarding the accuracy of the financial reports given by the company. Investigators found key digital evidence, including a laptop consisting of all transaction records. These records revealed that company has been issuing fake invoices and to avoid the payment of tax, the company routed them through shell companies. It is confirmed by the officials that the company has done a tax evasion of Rs. 10 crore. A detailed investigation is currently going on and legal actions are being taken by the department including assessment of tax dues and penalties under the GST act.