Ludhiana: Six companies discovered ‘evading’ ₹116.5-cr GST; 3 held
Could 04, 2025 08:14 AM IST
The companies concerned embrace Bharat Metal Business, Ramji Concast, AKM Alloys, KTB Alloys, Shree Salasar Balaji Metal Tubes and Shree Salasar Metal Tubes and Firm, says Directorate Basic of GST Intelligence
The Directorate Basic of GST Intelligence (DGGI), Ludhiana, claimed to have uncovered an enormous rip-off involving six Mandi Gobindgarh-based enterprise entities engaged in “unlawful gross sales” amounting to ₹647.4 crore, resulting in a staggering ₹116.5 crore in GST evasion. Three people, together with a outstanding industrialist and his two sons, have been arrested, officers stated.
The companies concerned embrace Bharat Metal Business, Ramji Concast, AKM Alloys, KTB Alloys, Shree Salasar Balaji Metal Tubes and Shree Salasar Metal Tubes and Firm. These companies are engaged in manufacturing metal billets and buying and selling metal pipes.
Based on the DGGI, investigations revealed that the entities had been concerned within the clandestine removing of products price ₹388.8 crore, evading GST to the tune of ₹69.8 crore. As well as, the entities generated pretend invoices price ₹258.5 crore, additional resulting in ₹46.5 crore GST fraud by way of unlawful enter tax credit score (ITC) claims utilizing fictitious companies.
Throughout raids and investigations, the DGGI seized a number of incriminating paperwork and supplies. These findings had been corroborated by voluntary statements made by the companions and staff of the entities, who admitted to fraudulent actions, the DGGI talked about in an announcement.
The DGGI arrested Sanjeev Kumar Bansal and his sons Karan Bansal and Sovit Bansal, who had been discovered to be the important thing people managing and controlling the fraudulent operations of those corporations, officers stated. All three have been remanded to judicial custody.
