Three business owners in Punjab were arrested for GST evasion worth Rs. 116.5 crore involving fake invoices and illegal sales.
Nidhi | May 5, 2025 |
Three Business Owners Arrested in GST Evasion Case Worth Rs. 116.5 Crore in Punjab
The Directorate General of GST Intelligence (DGGI) in Ludhiana, Punjab, on Saturday reported six business firms in Mandi Gobindgarh, Fatehgarh Sahib district, that were engaged in illegal sales of Rs. 647.4 crore, resulting in the Goods and Services Tax evasion of Rs. 116.5 crore. Three business owners of six business firms, including Bharat Steel Industry, Ramji Concast, A.K.M. Alloys, K.T.B. Alloys, Shree Salasar Balaji Steel Tubes and Shree Salasar Steel Tubes & Company, have been arrested in Punjab for evading GST.
These entities were making billets and selling pipes. As per an official statement, the investigation conducted by DGGI recovered strong evidence against these firms.
The entities moved goods amounting to Rs. 388.8 crore, which resulted in a GST evasion of Rs. 69.8 crore. These entities were also engaged in generating fake invoices worth Rs. 258.5 crore, and wrongly claimed Input Tax Credit (ITC), causing GST evasion of Rs. 46.5 crore.
The DGGI Ludhiana arrested three owners who were managing these firms, and they have been put to judicial custody.
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