Panchkula company evades GST on Rs 33.6 crore sale of goods

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A company has evaded goods and services tax (GST) on a sum of Rs 33.68 crore, according to the excise and taxation department. Sanjeev Rathi, excise and taxation commissioner (sales), said they came to know the company, “Recycle With Us”, was running from plot number 329, Industrial Area, Phase II. The company had got a GST number issued in their name for work related to scrap, stationery, auto parts and general store items. Cops, however, found that the company was not functional and only purchase and sale of goods was documented, with no physical work going on in the plot.

When the documents were checked, the excise and taxation officials found that the firm started in July 2017 and had sold goods to Haryana, Punjab, Himachal Pradesh, Chandigarh and Uttarakhand till May 31, 2019, and conducted a business of Rs 33.68 crore, said, excise officials. The GST on the business amount was not paid by the accused, flouting the norms under the GST Act 2017. The accused has been identified as Aashu Gupta, the owner of the company. The excise department has cancelled his GST number. Police have registered a fraud case against Gupta and initiated the criminal proceeding. Rathi, said, “The firm owner was flouting the norms under the GST Act 2017 and based on which legal action has been taken against him. Further investigation is going on.”

Read More at: https://timesofindia.indiatimes.com/city/chandigarh/panchkula-company-evades-gst-on-rs-33-6-crore-sale-of-goods-loses-number/articleshow/70112588.cms