GST Intelligence Arrests A Trader in 30 Crores GST evasion

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Jamshedpur : A Bokaro trader was arrested on Thursday for GST evasion to the tune of over Rs 30 crore, making it the second such case in Bihar-Jharkhand.

Satya Prakash Singh (50), a resident of Sector-III in Bokaro steel city, was summoned by officers of the Directorate General of GST Intelligence (DGGI), Jamshedpur regional unit in Sakchi and arrested after investigations revealed that he had generated fake invoices without supplying goods or services.

In the process, Singh availed fraudulent input tax credit (the credit manufacturers receive for paying input taxes towards use of raw materials for products).

“The accused was arrested under provisions of the Central Goods and Services Tax (CGST) Act, 2017. He has been remanded in judicial custody and forwarded to Ghaghidih Central Jail,” said deputy director of GST Intelligence, Jamshedpur, Gautam Kumar.

In July this year, a trader from Jodhpur, Rajasthan, Dinesh Vyas, had been arrested for evading GST of nearly Rs 10 crore.

According to sources at the GST Intelligence wing, Singh is the director of M/s Siddhi Vinayak Metal and Salt Company Private Limited, proprietor of M/s Shree Shyam Steel Enterprises and operator of M/s Renu Raj Enterprises.

He indulged in fraudulent practices leading to GST evasion cases being registered against Siddhi Vinayak Metal in Bokaro and Burdwan (Bengal), Shree Shyam Steel in Bokaro and Renu Raj Enterprises also in Bokaro. The companies are registered as suppliers of iron and steel scrap, sponge iron and billets, among others.

“All the companies generated fake invoices to avail of input tax credit. They also passed on the same to various firms with the intention to avoid payment of GST in cash. They manipulated and camouflaged supply of goods on paper and misused credit facility, leading to government revenue loss of over Rs 30 crore,” said a GST Intelligence officer.

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