Telangana

Fraudulent GST refunds of Rs 45 crore unearthed in Telangana

The Telangana Commercial Taxes Department has unearthed fraudulent GST refunds to the tune of Rs 45.67 crore by seven taxpayers and arrested a key accused on Wednesday.

Hyderabad: The Telangana Commercial Taxes Department has unearthed fraudulent GST refunds to the tune of Rs 45.67 crore by seven taxpayers and arrested a key accused on Wednesday.

These taxpayers had floated certain firms showing the fictitious activity of manufacturing electric bikes.

Officials said the fictitious firms were floated with an intention to take the GST refund fraudulently under inverse tax structure.

It was shown by the fraudsters that the spare parts were purchased from some fictitious firms that are registered at Delhi and the sales of electric bikes were shown in Telangana.

The verification by the department revealed that there was no manufacturing activity and there was no movement of goods from Delhi to Hyderabad.

One of the key persons involved, Vemireddy Ramakrishna Reddy was arrested on Wednesday. He was produced before the Court for Economic Offences, Nampally, which remanded him to judicial custody.

Investigation against others is being initiated by the department with the help of task force police.

The investigation was carried out by K. Geetha, Joint Commissioner of State Tax, Madhapur Division and her team under supervision of Dr. T.K. Sreedevi, Commissioner of Commercial Taxes, Telangana.

Source
IANS

Mohammed Yousuf

Mohammad Yousuf is an accomplished Content Editor with extensive experience in covering local, national, international, and sports news. Known for his sharp analytical skills and compelling storytelling, he has collaborated with leading media houses and earned recognition for his investigative content editing and insightful analysis of current events, trending topics, and breaking news. Yousuf brings deep knowledge of political and international affairs and a passion for delivering accurate and engaging sports coverage. His dedication to content integrity continues to strengthen Munsif News 24x7’s reputation for credibility.
Back to top button