- Bengaluru tax officials arrested the director of a lead ingot firm for GST evasion of Rs 44.8 crore.
- The firm used fake invoices with fraudulent suppliers to illegally claim Input Tax Credit.
- Investigations revealed fraudulent ITC claims amounting to Rs 44.83 crore, affecting a turnover of Rs 250 crore.
- Financial transactions were made to shell accounts, with no actual supply of goods.
- Funds were routed through multiple accounts and returned to the accused entity.
- Mukund Agarwal, director of Lawraga Metals Private Limited, was arrested and is in judicial custody until April 9, 2025.
- The operation was led by Vipul Bansal, Commissioner of Commercial Taxes, and supervised by Chandrashekara Nayak L.
- The arrest was executed by a team led by Krishna Kumar and Bharatesh Kumar S M.
Source: newindianexpress.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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