TFP Bureau, Raipur; February 23, 2024: The GST enforcement wing of Chhattisgarh made significant strides on Thursday, conducting raids at factories situated in the Urla and Siltara areas. The surprise inspections uncovered egregious tax evasion practices by three iron-steel manufacturers – Shyam Steel Industries, Ishwar Ispat, and Ishwar TMT – amounting to a staggering Rs 6.75 crore in GST evasion. While the preliminary investigation revealed this substantial evasion, authorities anticipate the total evasion amount to exceed the initial estimate.
During the operation, it was revealed that the aforementioned firms were purchasing raw scrap to manufacture iron and steel bars while skirting their GST obligations. In response to the enforcement action, the erring entities promptly paid Rs 4.75 crore in outstanding GST dues on the spot.
The proactive stance of Chhattisgarh’s GST enforcement wing underscores its commitment to curbing tax evasion and ensuring compliance with regulatory frameworks. Employing advanced IT tools and leveraging data insights from e-way bills and field inspections, the department meticulously tracked and targeted entities suspected of tax evasion.
The crackdown on these iron-steel traders serves as a stark reminder that tax evasion will not be tolerated, and stringent measures will be taken to uphold fiscal integrity and accountability in the state.
