Punjab: Businessman held for evading Rs 8.80 crore GST

Ludhiana, Dec 24 (PTI) A businessman was arrested by officials of the Central Goods and Services Tax for allegedly evading GST to the tune of Rs 8.80 crore, a statement issued on Wednesday said.

The arrest came following a search operation conducted at multiple locations of his firm in Dera Bassi on Tuesday.

In the statement, the Central Goods and Services Tax (CGST) officials said the firm, an aggregator of metal scraps, availed ineligible Input Tax Credit by fraudulent means to offset GST liability, causing serious leakage to the government revenue.

The investigation will further uncover the extent of the network and identify other entities involved, it said. PTI COR CHS OZ OZ