GST raids at SM Ispat Ltd. premises in Guwahati; tax evasion probe underway

STAFF REPORTER

GUWAHATI: A raid was conducted at the business premises of SM Ispat Ltd., located at Fancy Bazar, by the State GST Department of Assam. The company, one of the largest traders of CGI sheets in Assam, had five directors.

The State GST department detected several discrepancies related to movements of goods, availment of excess ITC, etc. in the GST profile of the company, which led to the conduction of inspection, search, and seizure under Section 67 of the Assam GST Act.

There is a possibility of suppressing turnover by the company to evade tax. The company has two additional places of business located at GS Road and Rhino Industrial Park, Amingaon. The operation will continue for several days as the discrepancies are huge. The investigation team is verifying each and every document of the company, including stock of goods.

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