GST evasion worth Rs 50 crore unearthed in Haridwar - GST NEWS

Times of India

GST evasion worth Rs 50 crore unearthed in Haridwar - GST NEWS DEHRADUN: For the first time in Uttarakhand, the state’s sales tax department has detected GST evasion of Rs 50 crore by 15 Haridwar-based firms who imported goods from other states using the e-way bill system, but did not pay the required tax for it. ALSO LIKE OUR FACEBOOK PAGE: https://www.facebook.com/latestgstnews/ The e-way bill system was rolled out in April this year for tracking the movement of goods from one state to another. Its details are linked with the GST network. The revelations were made after a team from the sales tax department conducted raids at multiple locations in Haridwar city on Sunday. What made the tax officials suspicious was the gross mismatch of the return figures reflected in the GST network and the volume of goods procured using the e-way bill system in the last six months. Haridwar zone's additional commissioner, sales tax, Rakesh Tandon, said: “These dealers and manufacturers were not updating their returns in the GST network despite having made e-way bills to the tune of Rs 50 crore. Our team made nine seizures during multiple searches that were carried out on October 21.” After scrutiny of the documents, the firms surrendered Rs 37 lakh on the spot, but given the large-scale purchases made by them a fine of Rs 5 crore might be imposed, Tandon said. “We are also examining more traders in the city who might be linked with GST evasion,” he added. Finance minister Prakash Pant told the TOI that the GST evasion would not be tolerated and more violators would be in the tax net. “Every transaction made by the traders has a digital footprint and there is no scope of hoarding or escaping. The traders and manufacturers will have to stick to the rules otherwise face action.”

                      source:-Times of India