Tax Evasion: GST Evasion of Rs.100 Crore via fake E-way bills; IT Department raided 16 places last year

The Accused, Qamar Ahmed Kazmi, was presented in court and from where he was sent to jail in the case of GST evasion of more than Rs.100 crore through a fraudulent e-way bill in Meerut.

STF officers had already approached the DC (SIB) State Tax Department Ghaziabad to get this information. He stated in online documents from his departmental website that Paragon Aluminum has an outside supply of Rs.296.38 crore in 2022-23.

This resulted in a cash deposit of Rs.3.14 crore and an ITC adjustment of Rs.50.24 crore. The corporation only paid one percent in taxes.

The firms from which this firm showed supplies were not genuine but were simply fake bills of exchange. Vehicles used for transportation are depicted on the e-way bill. There is no data available from any toll on the transportation of automobiles.

From 2017-18 to 2022-23, ITC worth more than Rs.4.28 crore was claimed. Following the portal’s introduction of the e-way bill system in 2018-19, e-way bills worth more than Rs.17.33 crore were cancelled till May 2023. During interrogation, Kazmi was unable to explain why.

Last year Income Tax Department raided 16 locations

Scrap is also imported from Gulf countries to be used in Qamar Athar Kazmi’s firms to create aluminium products. The company’s owners hold large properties on Hapur Road, including Khadauli and Partapur Kashi. On the Roorkee Bhagwanpur and Meerut Hapur Road, there is a glass plant. Sahibabad has an aluminium factory.

Gurugram, Delhi, Saharanpur, Noida, and Pusa, Delhi have offices. He was prepared to open a factory in Dubai last year. They come on the radar of the Income Tax Department after getting information about this.

The Income Tax Department investigated 16 locations associated with Paragon and GoodX Glass Industries last year. Account and property records, primarily from the glass and aluminium sectors, were examined. Throughout the day, the crew assessed taxes totalling more than Rs.100 crore, according to the departmental officer.

Documents related to many accounts and properties were collected. The bills of purchase and sale of items related to aluminium, glass and scrap were examined.

Big Game happened in Demonetization

According to Income Tax sources, Kazmi played a significant role in exchanging notes during demonetization and a complaint about it was forwarded to the department. In place of Rs.50 lakh, an entry of Rs.40 lakh was shown. There were additional irregularities discovered in the ways through which money entered the accounts.

For three years, the department inspected the details of income and expenditure.