The officials of the State CT (commercial tax) and GST (goods and services tax) on Saturday recovered Rs 5.68 crore following raid on two textile traders in Boudh. The raids were carried out following allegations that some textile dealers were selling goods out of account without issuing tax invoice in order to evade tax payment.
The officers of State CT and GST Enforcement Wing conducted simultaneous raids on business establishments, residence and godowns of M/S Singhal located at Hospital Road and M/S Shree Binayak Textiles, located at PWD Road, Boudh.
During the course of inspection, the officers verified purchase and sale details, stock accounts and the information available in computers, laptops etc. Physical stock available in their business premises and godown and other details have been collected for cross verification with books of accounts. Several computers, laptop and the documents have been seized for further investigation.
“During the course of inspection, a sum of Rs 5.68 Crore recovered from one taxpayer M/S Shree Binayak Textile and it was deposited into the bank account of the said taxpayer and provisionally attached to prevent any debit entry from the account. Investigation reveals that these tax payers have paid very negligible amount of differential tax on their sales despite having huge turnover,” said a senior official.