Pune: Private Company Owner Arrested For Tax Evasion Through Bogus Payments
Pune, 31st August 2023: An extensive probe by the Maharashtra State Goods and Services Tax (GST) Department has uncovered a tax evasion scheme amounting to Rs 6.26 crore, orchestrated through the use of fabricated payments. The proprietor of the involved company, V.V. Corporation, has been apprehended in connection with this case.
The inquiry has found that Prabhakar Venu, the company’s owner, strategically evaded taxes by manipulating fictitious transactions involving non-existent and fraudulent traders.
In a startling revelation, Venu stands accused of evading taxes totaling Rs 6.26 crore by orchestrating deceptive payments unrelated to actual purchases, amounting to Rs 34.82 crore. As a result, Venu has been taken into custody under the provisions outlined in Section 132 (1) (c) of the Maharashtra Goods and Services Tax Act 2017, along with proceedings pertaining to special investigations. Upon review, the Chief Judicial Magistrate Court has subsequently remanded him to judicial custody for a span of 14 days.
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