Businessman in Custody for GST Evasion Worth Rs 8.80 Crore

A businessman in Dera Bassi was arrested by CGST officials for allegedly evading GST amounting to Rs 8.80 crore. The operation included multiple searches at the firm's locations, revealing fraudulent Input Tax Credit claims, resulting in significant government revenue loss. The investigation aims to uncover further network entities involved.

A businessman in Dera Bassi has been arrested by Central Goods and Services Tax (CGST) officials for allegedly evading GST to the tune of Rs 8.80 crore. The arrest came after a comprehensive search operation at multiple locations of his firm, an aggregator of metal scraps, on Tuesday.

The CGST officials reported that the firm used fraudulent methods to avail ineligible Input Tax Credit, causing a substantial leak in government revenue. This scheme was allegedly employed to offset GST liabilities undeservingly.

Authorities have stated that the investigation will continue, aiming to unveil the complete extent of the network and identify other entities that are possibly complicit in this tax evasion scheme.

(With inputs from agencies.)