In A major action against alleged evasion of GST (Goods and Services Tax), the Surat DGGI (Director General of Goods and Services Tax Intelligence), on Monday arrested Yatinkumar Sumatilal Shah, proprietor of a bullion firm in Surat, with officials saying that “tax evasion of nearly Rs 18 crore” had been detected.
In October last year, on a tip-off, a team carried out searches at the M/S Sumati Silver at Navapura in Surat and the residential premises of Yatinkumar.
According to officials, “incriminating documents, including parallel (kachha) challan books and related records evidencing clandestine supply of silver bullion and silver articles without issuance of tax invoices” were seized.
Scrutiny of the seized records revealed that the firm allegedly made unaccounted taxable supplies valued at more than Rs 600 crore during the past three years, resulting in GST evasion of around Rs 18 crore, the officers said.
The offences are punishable under the CGST Act, 2017 and are cognizable and non-bailable. Yatinkumar was arrested under Section 69 of the CGST Act, 2017, and further investigation is underway, DGGI officers said.
Source from: https://indianexpress.com/article/cities/ahmedabad/surat-bullion-trader-held-for-rs-18-cr-gst-evasion-10537845/
