Nation Crime 05 May 2019 Consultant held in S ...

Consultant held in Sujana GST fraud

DECCAN CHRONICLE. | COREENA SUARES
Published May 5, 2019, 1:03 am IST
Updated May 5, 2019, 1:03 am IST
Without paying GST, the companies had claimed ‘input tax credit’. By showing this, they had borrowed money from banks.
Central GST sleuths reportedly took him into custody two days ago. It came to light when his family filed a petition before the High Court seeking his whereabouts.
 Central GST sleuths reportedly took him into custody two days ago. It came to light when his family filed a petition before the High Court seeking his whereabouts.

Hyderabad: The Central GST Intelligence arrested liaison officer and consultant N.S. Ayyanagar, in connection with the alleged GST fraud committed by Sujana group of companies to the tune of Rs 250 crore.

Central GST sleuths reportedly took him into custody two days ago. It came to light when his family filed a petition before the High Court seeking his whereabouts.

 

During primary investigation, GST officials found that eight to nine shell companies in Hyderabad had allegedly indulged in fraud of Rs 1,284 crore and had reportedly evaded GST of Rs 250 crore.

It was found that one shell company had evaded Rs 17 crore tax and another had fraudulently shown Rs 56 crore as its turnover.

The officials reportedly found that the shell companies without buying or selling products had created fake invoices and registered fake turnover on paper. Without paying GST, the companies had claimed ‘input tax credit’. By showing this, they had borrowed money from banks.

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Location: India, Telangana, Hyderabad




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