A Pune businessman has been arrested in Mumbai after he was found evading the Goods and Services Tax (GST) on Sunday. The Directorate General of GST Intelligence (DGGI) arrested Modsingh Padmasingh Sodha, after the businessman evaded GST worth ₹80 crore by creating fake invoices worth crores through 10 fake companies.
Accordingly, the Pune High Court has sentenced the businessman to judicial custody of 14 days. Sodha is one of the leading businessmen from Pune and owns a scrap and alloy metals company which is situated at CP Tank, Mumbai. The businessman has been accused of conducting tax fraud through this company along with making fake invoices and transferring black money.
Last year, he had prepared an estimated bill of ₹415 crore since July 1, 2017. Accordingly, as per the bill, Sodha has been accused of evading GST worth ₹80 crore. Pune’s DGGI stated that initially, as part of the GST collection, ₹2.18 crore has been recovered from the Pune businessman. They further added that they had suspected about Sodha’s tax evasion as they found out about his fake companies.
Meanwhile, the investigation about how much tax has been evaded, where has Sodha transferred his black, etc. is ongoing. The DGGI has estimated that a racket of fake invoices worth ₹900 crore will be unearthed soon. Accordingly, they are conducting a probe and checking Sodha’s public bank and private bank accounts.
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