Hyderabad: SKG Trading owner Sandeep Goel held for ₹84.15 Cr GST fraud
The investigation revealed that Goel allegedly availed and passed on Input Tax Credit using invoices issued without any actual supply of goods.
By - Newsmeter Network
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Hyderabad: Commercial Taxes Department of Telangana has arrested a businessman for ₹84.15 crore Goods and Services Tax (GST) fraud.
Officials said he used fake invoices and fraudulent Input Tax Credit (ITC) claims to cause loss to the state exchequer.
Fraudulent ITC claims unearthed
Acting on credible intelligence and detailed data analysis, officials of the Commercial Taxes Department investigated the activities of Sandeep Kumar Goel, proprietor of SKG Trading Company.
The investigation revealed that Goel allegedly availed and passed on Input Tax Credit using invoices issued without any actual supply of goods.
Authorities said these fraudulent transactions enabled the wrongful availment of ITC worth approximately ₹84.15 crore, causing significant loss to the government exchequer.
Multiple firms involved
Further investigation revealed that Goel was also associated with two other firms — M/s HFC Steel Tubes & Valves, where he was the proprietor, and M/s Vijay Industrial Needs LLP, where he was a partner.
Officials found that these firms were also involved in fraudulently claiming ITC without the actual receipt of goods or services. Following the findings, the GST registrations of both entities were cancelled by the department.
Arrest after legal procedure
Despite being given several opportunities to rectify the irregularities and compensate for the loss caused to the government, the accused allegedly failed to do so.
Considering the gravity of the offence, officials arrested Goel under provisions of the Telangana GST Act, 2017, after completing due legal procedures.
He was produced before the competent judicial authority and remanded to judicial custody on Friday.
Department warns of strict action
Commercial Taxes Department Commissioner M. Raghunandhan Rao reiterated that it will continue to take prompt and stringent action against individuals involved in fraudulent ITC claims, fake invoicing, and other violations of GST laws.
Officials said the department remains committed to maintaining a transparent and fair tax system that supports ease of doing business in the state.
Investigation continues
Authorities said further investigation into the activities of M/s SKG Trading Company and related entities is currently underway.
