New Delhi: Cracking down a big fish in the transportation business, Gujarat’s Directorate General of GST Intelligence (GST) have made huge recovery of cash amounting to Rs 150 crores from a Kanpur based factory.
On specific intelligence, DGGI officers initiated searches in Kanpur at the factory premises belonging to the transporter who was involved in transportation of goods under the cover of fake invoices, without generating E-way Bills.
The transporter used to generate multiple invoices in the name of non-existent firms, all below Rs 50,000/- for one truck load, to avoid generation of Eway Bills.
The officers successfully intercepted and seized 4 such trucks outside the factory premises.
More than 200 fake invoices used in the past for transportation without payment of GST have been recovered from the warehouse of transporter.
Further, physical stock taking in the factory has resulted in detection of shortage of raw materials/finished goods.
At the residence of one of the suppliers, also related to the transporter, huge cash amount, likely to be in excess of Rs 150 crores has been recovered.
The process of counting of currency notes is still going on with the help of SBI officials. It may get concluded by tomorrow morning, giving us the exact figures.
