GST raid in Ludhiana: Rs 80 lakh cash, multiple bill books, good Reciept books, cheque books etc recovered

Ludhiana, February 14 (P2P) :
The Ludhiana State GST department, carried out search and seizure operation in Mandi Kesar Ganj of Ludhiana. Today i.e. 12.02.2021 a local firm involved in Trading of edible oil and non edible oil whose turnover is in crores of rupees annually was inspected by the sleuths of State GST unit Ludhiana. The officers were in surprise to find a whopping cash of more than Rs 80 lakh at the premises. Following the protocol, officers of the Income Tax department were called on the spot for handling such a big amount. The officers of Income Tax department counted the cash in the presence of State GST authorities. Many loose papers and books of account, pertaining to the business transaction were impounded from the business premises. Also multiple bill books, good Reciept books, cheque books etc were found on the premises of the taxable person and were impounded by the officers. Officers said it is suspected that more than one firms may be operating from the same premises. An official said that  it is suspected that edible oil is purchased by this dealer and has shown sale through bogus transactions where actual goods are send elsewhere and  tax payable is evaded by this modus operandi. It was brought to the notice of Taxation Commissioner Punjab, Sh. Nilkanth S Avhad IAS and Additional Taxation Commissioner-1 Sh. Showkat Ahmad Parry IAS and permission was accorded to the Deputy Commissioner of State Tax who constituted a team of officers. State Tax Officers Smt. Manu Garg, Sh. Dharminder Kumar, Sh. Davinder Pannu and ETI Sh. Munish Kumar, Sh. Ashwani Kumar, Sh. Rishi Verma and supporting staff carried out this inspection.
Mr Tejveer Singh Sidhu, Deputy Excise & Taxation Commissioner, Ludhiana informed that the record impounded is being examined for ascertaining the actual amount of evasion involved and further investigation is in progress.