GST searches unearth Rs 42 crore tax evasion by firms in Hyderabad

Categories: GST Recent News, News
No Comments

Pan Hyderabad searches by Directorate General of GST Intelligence (DGGSTI) revealed that several top companies like SRK Constructions and Projects and N.K. Hospitality Services have evaded service tax and GST. Sources said that the SRK Constructions and Projects who have worked on laying of National Highways had not paid Rs 33.2 crore of GST and service tax. N.K. Hospitality, which operates franchises of Papparoti is supposed to pay Rs 1 crore according to the GST officials. GST officials also calculated that Chirec Public School has Rs 4 crore exposure of service tax.

DGGI sources said that though SRK Constructions were supposed to pay Rs 120 crore, they had paid only Rs 90 crore of tax in which Rs 2.6 crore was paid as part of pre-GST regime service tax and Rs 30.6 crore was paid as part of GST regime. Ravi Settipalli owns SRK Constructions. N.K. Hospitality Services, located at Babukhan Estate in Bahseerbagh is a Papparoti franchise partner for Hyderabad, Chennai, Bengaluru, Pune and Mumbai. “Tollywood actor Vishnu Manchu owns the Springboard Academy franchise school in Hyderabad. His school paid GST and tax but only Rs 18 lakh is left of the service tax regime. Regarding Chirec Public School, the exposure is Rs 4 crore of tax as per preliminary calculation,” said a source. Searches were conducted in 21 locations in the city on different kind of institutions. GST officials said around Rs 42.5 crore tax evasion has been detected. The cases are handed over to the concerned GST commissionarates by DGGSTI.

Read More at: https://timesofindia.indiatimes.com/city/hyderabad/gst-searches-unearth-rs-42cr-tax-evasion-by-firms/articleshow/72892990.cms

CLOSE
CLOSE