LUDHIANA: The raids conducted by Central GST (CGST) commissionerate, Ludhiana, on 16 premises of 11 bicycle manufacturing and trading companies of Ludhiana ended late night on Wednesday. The action which was a first of its kind industry segment action by the department has resulted in detection of tax liabilities to the tunes of Rs 1 crore till now and case is still under progress. In this case, the firms raided by department were involved in the process of underpaying GST by indulging into under-invoicing of their products.
According to the department, the companies which were searched included Sunny Cycles India, Sunny Industries, Cute Products India, Lotus Cycles Pvt Ltd, Brij Cycles, Jagdambay Cycles Pvt Ltd, RD Bikes, Deol Export International, Deol Cycles, RD Impex and Raman Ghai industries.
Meanwhile giving more information, Ashutosh Baranwal, principal commissioner , CGST commissionerate, Ludhiana, said “Anti evasion wing of central GST commissionerate, Ludhiana on specific intelligence has booked cases of undervaluation against cycle manufacturers of Ludhiana. Yesterday searches were conducted at business premises of 11 parties and residential premises of 5 of these too were searched. Around fifty officers led by deputy commissioner Daljit Kaur and joint commissioner Paramavtar Singh Gill. The searches have resulted in recovery of various incriminating documents including parallel invoices from some of these parties.”
Baranwal also added, “Incidents were noticed where parties were unknown to the procedures and laws to be followed in GST regime as their sector is unorganized. On being pointed out the contravention of GST laws with respect to undervaluation and shortage of stock, few parties admitted their lapse and liabilities on the spot. These searches resulted in total detection of initial tax liabilities of more than Rs 1 crore and further investigation in the cases is under progress.”
Source- Times of India.