Man held for GST evasion

 

The Commissionerate of CGST and Central Excise, Madurai, has arrested a man in-charge of the operations of two firms based in Sivakasi for ₹ 8.10-crore evasion of GST duty.

Based on intelligence inputs, the officers conducted an investigation and found that the two firms engaged in the purchase and sale of paper products, fast moving consumer goods, industrial chemicals and tiles had contravened the provisions of the CGST Act, 2017.

The offences were supplying taxable goods without issuance of tax invoices, issuance of tax invoices without supply of goods and fraudulent use of input tax credit based on bogus invoices without receipt of goods.


As per Section 132 of the Act, the offence was punishable with imprisonment up to five years and with fine if the value of the tax evaded exceeded ₹ 5 crore.


Chief Judicial Magistrate remanded him in judicial custody till December 1, officials said.

Sourcehttps://www.thehindu.com/news/cities/Madurai/man-held-for-cgst-evasion/article37581711.ece#


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