The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur


  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Nation

GST Dept recovers silver bar worth Rs 10 crore from a toilet size office

by TLN Team April 24, 2022April 24, 2022
written by TLN Team April 24, 2022April 24, 2022
GST Dept recovers silver bar worth Rs 10 crore from a toilet size office

The Maharashtra GST Department in a raid discovered cash, silver bars worth Rs 10 crore, and an astounding Rs.1,764 crore in company turnover from an office of just 35 square feet less than a residential toilet.

The Department raided the premises of south Mumbai’s Zaveri Bazaar and other places belonging to one Chamunda Bullion on April 16 after receiving a tip. The majority of these locations, including the teeny-tiny one raided, were not listed as places of business in the State GST Department’s register.

GST sleuths discovered cash worth Rs 9.78 crore and 19 kg of silver bricks worth Rs 13 lakh while inspecting one such mystery site on April 20. The entire haul was buried inside the tiny premises’ walls and floor.

Chamunda Bullion’s revelations were further enhanced by a rigorous investigation of the accounts using the State GST’s sophisticated analytic capabilities.

The GST team discovered that the company’s gross turnover jumped from Rs 22.83 lakh in 2019-2020 to Rs 652 crore the following year (2020-2021), and then to an incredible Rs 1,764 crore the year after that (2021-2022).

When questioned, the building’s owners and family members denied knowing about or owning the rich trove discovered by the GST crews.

As a result, the State GST has shut the premises and notified the Internal Revenue Service to conduct further investigations. Following the discovery, the cash counting that night took over six hours till the next morning, and further procedures are being carried out.

The entire dramatic operation was overseen by Joint Commissioner of State Tax Rahul Dwivedi (IAS) and Investigation-B Deputy Commissioner Vinod Desai.

Meanwhile, the property owner (taxpayer) applied to the Mumbai Sessions Court for anticipatory bail in order to prevent being arrested by the State GST Department.

The State GST has stated that it will investigate the suppression of GST, while the IT will now investigate the source of the unexplained cash and valuables discovered from the small office, as well as other relevant issues.

The GST Department has made five major arrests this year, sending a strong message to tax evaders and defaulters that they would not be spared if they break the law.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
MSEDCL to buy 15L new electricity meters
next post
IPL 2022: Final to be held in Ahmedabad; playoffs in Lucknow or Kolkata

You may also like

MAFSU signs Memorandum of Collaboration with Ministry of...

May 26, 2022

SC orders police not to interfere against consent...

May 26, 2022

Passengers irated with SpiceJet over delays due to...

May 25, 2022

A postmasters obsessed with cricket betting spends savings...

May 25, 2022

DGCA WARNS AIRLINES AGAINST OFFERING UNSERVICEABLE SEATS

May 25, 2022

Ever forced to give service charges in restaurants,...

May 24, 2022

DRDO report finds serious battery defects in EVs...

May 24, 2022

BCCI announces squads for the five-match South Africa...

May 22, 2022

Petrol, diesel prices reduced further by Rs 2.08,...

May 22, 2022

Rajnath Singh advises to become self reliant in...

May 22, 2022

Trending News

  • NTA opens application Form Edit window for NEET 2022

    May 25, 2022
  • Instagram Outage: Some users left unable to login, refresh feed

    May 25, 2022
  • City’s Pohewala enters first phase of ‘Shark Tank India S2’

    May 24, 2022
  • Three injured after falling from mid-air during paprasailing

    May 23, 2022
  • RTMNU exam in MCQ format off-line mode

    May 20, 2022

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

April 2022
M T W T F S S
« Mar   May »
 123
45678910
11121314151617
18192021222324
252627282930  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.