Published on 16/09/2020 9:43:19 AM | Source: IANS

GST evasion scam detected in fabric units in TN`s Tirupur

Posted in Industry News| #GST #Industry

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

In a major crackdown on evasion of goods and services tax (GST), officials of Directorate General of GST Intelligence, Coimbatore detected sales of goods amounting to Rs 40-45 crore without bills by two knitted fabric makers in Tamil Nadu's Tirupur.

In a statement issued here on Tuesday, GST officials said searches were carried out at the business and warehouse premises of the manufacturers and unaccounted stock of knitted fabrics valued at Rs 2.70 crores (approximately) were also detected and seized.

Two of the warehouses were not declared to the GST Department.

Incriminating documents evidencing evasion of GST since the inception of GST have been recovered.

An amount of Rs 2.2 crore has been recovered towards past GST liabilities.

Further investigation is in progress, the statement said.