Pollachi Jeweller arrested for GST Evasion worth Rs.6.53 Crore:

Pollachi Jeweller arrested for GST Evasion worth Rs.6.53 Crore GST inspectors arrested a partner of a Pollachi-based retail jewellery firm on Wednesday for tax evasion of Rs 6.53 crore. GST officials obtained intelligence that a well-known retail jeweller in Pollachi was involved in the clandestine supply of gold and gold jewellery without issuing GST invoices and evading GST on such transactions. Officials from the Coimbatore Central GST Commissionerate's headquarters preventative section conducted multiple searches at wholesale and retail jewellery stores in Pollachi and Coimbatore on February 1 and 21, During the searches and investigations with the jewellery firm's employees and partners, it was discovered that they used two independent software systems in their operation. One software was used for generating GST invoices, and another to store data on non-GST supplies. The unaccounted stock was discovered during investigations at the retail jewellery firm's wholesale suppliers' locations in Pollachi. During the search, a significant shortfall of stock was discovered, totalling 31 kg of gold and 409 kg of silver. GST officials claimed that the jewellery firm engaged in unexplained clandestine sales of more than 305 kg of gold without paying GST. A lawsuit was filed against the jewellery company for GST evasion of Rs.6.53 crore, with a taxable value of Rs.217 crore. The firm's partner who masterminded the tax evasion was arrested on Wednesday under the Central GST Act. He was brought before the chief judicial magistrate court, which ordered him held in judicial custody until March 10.