DGGI sent notices to eight thermo-mechanically treated (TMT) bar manufacturers last week and has already recovered about Rs 200 crore in tax payments so far.
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These manufacturers made supplies to dealers without declaration of inventory or payment of GST, said one of the officials. “So far, tax evasion of about Rs 730 crore has been detected,” another official said. “Notices have been served to eight companies.”
All iron and steel items are subject to 18% GST. The Meerut unit of DGGI had received intelligence that several TMT bar makers were filing documents on behalf of non-existent companies naming them as suppliers…
Read more at: The Economic Times
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