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GST evasion racket busted in Junagadh

Rajkot: State Goods and Service Tax (SGST) department raided nine investors in Junagadh on Friday and busted a bogus billing racket with estimated transactions of Rs 227 crore.
During preliminary investigation, it came to light that nine companies had been floated in the identify of those investors the usage of cast paperwork and goods price Rs 227 crore had been despatched out of Gujarat.

According to officials, the masterminds, who are but to be known, secured the PAN numbers and different authentic ID details of some labourers and small-time investors. Using these paperwork, different some papers like rent settlement and local frame tax bill had been additionally cast to create bogus companies. Then, the usage of the ID proofs and company’s details, they secured GST numbers.

“Those in need of to sell their goods outdoor the state without paying the tax, contacted these masterminds. Using the GST numbers of those nine bogus companies, e-way bills had been generated and the products had been transported,” an SGST authentic mentioned.

According to GST officials, the e-way bills of groundnut had been generated in most of these circumstances. The nine investors who had been raided on Friday advised officials that they had been unaware concerning the transactions. The masterminds might be known best after the ones individuals who procured the products outdoor Gujarat are identified.

An authentic just about the investigation mentioned, “We are working to identification the individuals who masterminded this racket . By the usage of the GST numbers, they made sale of Rs 227 crore.”

According to the regulation, a dealer has to furnish GST return in 90 days of selling the products and thereafter pay the tax.

Officials mentioned in most of these circumstances, groundnut has been sold in different states. This commoditity draws five% tax. Primarily, it’s believed that, the ones involved have by means of evaded round Rs 12 crore tax.

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