Coimbatore: Two persons, including a businessman, have been arrested for allegedly causing a loss of ₹50 crore to the state through GST tax evasion.
Coimbatore: Two persons, including a businessman, have been arrested for allegedly causing a loss of ₹50 crore to the state through GST tax evasion.
In a press release by the GST and Excise department, Mohammad Sahil, a resident of Tirupur, has obtained a government-provided input credit for making and selling fake invoices and e-way bills. It is learned that Kandasamy, a GST consultant from Tirupur, was the mastermind.
Further, the case was registered and the investigation revealed that when Mohammad Sahil approached Kandasamy due to loss of business, he helped in engaging in fraud, as well as preparing invoices and e-bills under various fake names.
Following that, it was revealed that Saravanan, a chartered accountant from Tirupur, had forged documents to get an income tax target. GST officers seized fake documents, invoices, various corporate letterheads and mobile SIM cards from Mohammad Sahil and Kandasamy and have booked them under 3 sections and are being investigated.
It is alleged that ₹50 crore of the concessional amount, including GST and credit, is involved in tax evasion of ₹50 crore.
In a press release by the GST and Excise department, Mohammad Sahil, a resident of Tirupur, has obtained a government-provided input credit for making and selling fake invoices and e-way bills. It is learned that Kandasamy, a GST consultant from Tirupur, was the mastermind.
Further, the case was registered and the investigation revealed that when Mohammad Sahil approached Kandasamy due to loss of business, he helped in engaging in fraud, as well as preparing invoices and e-bills under various fake names.
Following that, it was revealed that Saravanan, a chartered accountant from Tirupur, had forged documents to get an income tax target. GST officers seized fake documents, invoices, various corporate letterheads and mobile SIM cards from Mohammad Sahil and Kandasamy and have booked them under 3 sections and are being investigated.
It is alleged that ₹50 crore of the concessional amount, including GST and credit, is involved in tax evasion of ₹50 crore.