Unethical practices, especially with regard to GST, continue!
Saraswati Spinning and Weaving Mills in Kala Amb (Himachal Pradesh) is the newest in the list. As per the officials, the company is involved in tax fraud of huge amount.
The officials have, so far, found evidence of around Rs. 7 crore as tax fraud.
Central Good and Service Tax (CGST) officials are investigating the matter. The team has found bills of Rs. 235 crore with some of them being false bills showing the Input Tax Credit (ITC) details of companies that don’t exist in real.
The officials have issued summons in this regard to the four partners of the companies, and have seized all records of the company. Further investigation is in process.
It is pertinent to mention here that after the recent launch of a nationwide drive against fake GST invoices that saw 25 arrests in just 4 days, the Union Government is considering to amend laws to check fraudulent claims of ITC through bogus bills.