Chennai: The Central Goods and Services Tax (CGST) Commissionerate has arrested Prakash Kumar, managing director of G and T Pvt Ltd, a copper wire manufacturing unit, for evading GST to the tune of Rs34.81 crore.
The Chennai North CGST Commissionerate conducted searches at the Vadaperumbakkam-based firm on November 11, seizing a large volume of digital and documentary evidence, including cash slips, quotations, UPI transfers, and bank transactions. Officials confirmed that sales were conducted without proper GST invoices, with the firm suppressing a turnover of Rs193.50 crore over five years.
According to GST officials, Prakash Kumar sold copper winding wires and copper strips through quotations only, receiving payments in cash and unregistered bank accounts of employees and other individuals. The accused confessed to the offence and was remanded in judicial custody until December 5 under the GST Act.
Earlier, in October, GST authorities uncovered another GST invoice racket, arresting two individuals who created fake invoices worth Rs59 crore to help firms claim input tax credit of Rs10.64 crore. The duo issued invoices in the names of 89 non-existent companies, enabling tax benefits for 19 firms.
