Kerala: GST raid in Thrissur reveals tax evasion in tune of Rs 1000 cr in 5 years
A recent GST raid in Thrissur uncovered a staggering tax evasion of approximately Rs 1,000 crore over five years. Investigators found establishments hiding revenue, declaring only Rs 2 crore in sales despite monthly sales of Rs 10 crore.
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FollowThrissur: In a startling development, preliminary findings from a recent Goods and Services Tax (GST) raid in Thrissur have revealed an alarming tax evasion of approximately Rs 1,000 crore over the past five years. Investigators discovered that several establishments, which had monthly sales of around Rs. 10 crore, only declared Rs. 2 crore in sales, which is a major concealment of revenue.
In response to these findings, a special team has been formed to conduct a thorough investigation, with 241 officers assigned across 41 units. The GST Special Commissioner has mandated that the inspection be completed within 90 days to ensure a comprehensive review of the situation.
GST intelligence officials arrived in vehicles disguised with excursion flex boards to inspect gold manufacturing centers and shops in Thrissur, from where 120 kg of unaccounted gold was seized.
The GST intelligence department's inspections were held at gold jewelry manufacturing centers and shops in Thrissur. Around 700 officers from various parts of the state are participating in the raid at around 74 locations, led by GST Special Commissioner Abraham.
GST intelligence officials told Asianet News Online that unaccounted gold has been seized in the inspections.This is the largest raid conducted by the GST department in the state and as per available information, tax evasion for the past 5 years has been uncovered. The operation is named 'Operation Torre del Oro'.
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