The Una Excise and Taxation Department on Friday slapped a penalty amounting to about Rs 30 crore on a firm located in Gagret subdivision for reportedly manipulating the GST. Rakeswh Bharatiya, Joint Commissioner of the Central zone of the Excise and Taxation department located in Una district, in a press release said the Chief Executive Officer of the said firm had created three new firms through which bogus purchases of goods was being done.
Bharatiya said the firm was duly registered under the Companies Act as well as in the GST portal, but did not exist physically. He said three firms were created to manipulate the provisions of the Input Tax Credit (ITC) to its benefit and evade due GST amount.
The Joint Commissioner said the irregularities pertained to the period 2018 onward and were under investigation. He said the Director of one of the three firms had deposed that he was not even aware of purchase of some property by his firm, which was being managed by the CEO of the Gagret based firm.
Source from: https://www.tribuneindia.com/news/himachal/rs-30-crore-fine-on-gagret-firm-for-evading-gst-243634