- 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
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