GST department arrested two directors in case of tax evasion of INR 6.40 crore

The Goods and Services Tax Department of Maharashtra Government has exposed a tax evasion scam worth INR 6.40 crore. Revenue Deputy Commissioner Rajendra Tilekar said through a press release that two directors Kamlesh Babulal Jain (age 61) and Bhavana Kamlesh Jain (age 61) were arrested on April 16 as part of a sting operation by the GST department in connection with fake bills.

May Monopoly Innovation Private Limited Investigation action was initiated against this company by the Goods and Services Tax Department. During the action, this businessman caused a revenue loss of INR 6.40 crore by showing buying and selling from a businessman whose registration certificate has been cancelled. It was found that this trader caused a revenue loss of INR 3.17 crore to the government by claiming a wrong tax deduction of INR 3.23 crore by showing purchases from an unregistered trader and issuing only bills without goods.

Also Read: Mumbai: 60-Year-Old Woman Loses INR 8.60 Lakh To Cyber Fraud The Metropolitan Magistrate has sent the accused to judicial custody for 14 days. By using all-inclusive network analysis tools and coordinating with other departments, the Maharashtra Goods and Services Tax Department is tracking tax evading traders. Through this campaign, Maharashtra Goods and Services Tax Department has alerted the tax evaders through the first arrest action in the financial year 2024-25.