GST evasion of Rs1.18-cr detected

In a major success for the GST Commissionerate, Ludhiana, its anti-evasion wing has detected GST evasion of Rs. 1.18 crore by M/S Sardar Associates, a firm based in Chandigarh Road here. A press statement issued by the department said a search was conducted on the said firm on February 15 under suspicion of tax evasion.

During the action at the firm’s factory, it was found that the firm had a huge shortage of raw material to the tune of 2,500 metric tonnes in their real inventory, when compared with the stock shown in their books.

The statement further said it was also found that the said firm was procuring bogus bills without actually buying the goods, and availing input tax credit against these fake bills, defrauding the exchequer. Further investigations by the department are ongoing, and as a follow-up, more such entities will be identified and booked under relevant laws.