The Directorate General of GST Intelligence (DGGI) arrested a real estate developer from the city on Tuesday on charges of evading GST payments to the tune of Rs 18 crore.
According to the DGGI, the officials had conducted searches at various locations in the city owned by Raj Mahal developers, a partnership realty firm engaged in the construction business in the city, in November 2019. The DGGI sleuths had received intelligence that the firm was indulging in large scale evasion of GST payments.
The officials had recovered many incriminating documents including dairies relating to their investments and the cash received from their clients in the sale of various projects in the city.
Further investigation revealed that the realtors had suppressed the sale value of shops by receiving major portion of sale proceeds in cash on which no GST was paid. Out of the two partners, the active partner Ramesh Kumar Gupta was confronted with the seized documents.
Gupta admitted to receiving Rs 135 crore cash payments on which more than Rs 16 crore of GST was not paid. In addition, he had also not paid GST of more than Rs 2.8 crore since April-2018 on the cheque components of the sale proceeds.
