The authorities arrested Dhavalkumar Jagdish Patel, the director of M/s Nandeshwari Steel Ltd for allegedly evading GST to the tune of Rs 51.53 crore. The director of Rs. 700 crore turnover company was held after an investigation carried out by the officers of the CGST Commissionerate in Gandhinagar. The firm is accused of availing of fraudulent Input Tax Credit (ITC) to discharge their GST liability. Dhavalkumar Patel is sent to 14-day judicial custody on July 21.
The Investigation was initiated based on intelligence revealed that the company was availing ITC on fake/bogus invoices issued by fake/non-existing suppliers. Another method of defrauding the system was to show invoices to have been issued by the suppliers whose GST registration was already cancelled. The firm runs an integrated steel plant.
Patel was detained under Section 69 of the CGST Act, 2017. He is accused of violating the provisions of section 132(C) of the CGST Act. He was produced before the Additional Chief Metropolitan Magistrate, Ahmedabad. If proven guilty, Patel is liable to a punishment of imprisonment up to five years.
Also Read: Surat: Vikas Ahir’s Arrest In Drug Racket Shocks All
