SGST Crackdown: Builders Deposit ₹9 Crore GST After Compliance Lapses

SGST Crackdown: Builders Deposit ₹9 Crore GST After Compliance Lapses

In a recent crackdown, the State Goods and Services Tax (SGST) Department took action against four prominent builders and colonisers in the city, resulting in the deposit of ₹9 crore as GST payments, including cash and Input Tax Credit (ITC). The search action, directed by Additional Commissioner Rajnee Singh, involved over 40 SGST Department officers across the city.

The targeted builders included BCM Group, M Chaugh Group, Monark Developers, and Sunil Agrawal and Associates. Despite being major GST contributors, these entities were found to have lapses in GST compliance rather than deliberate tax evasion, according to sources familiar with the matter.

The investigation, which concluded on Saturday following searches at their respective offices, led to immediate GST payments on-site. However, due to the absence of Sunil Agrawal and Associates’ promoters from the city, their GST payment is pending.

These builders are renowned for catering to various segments of society with their projects. While they did not intentionally evade GST, their compliance failures prompted the SGST Department’s scrutiny.

Liked the post? Share this:
editor
editor@nyca.in
No Comments

Post A Comment

Disclaimer

We have taken all steps to ensure that the information on the website has been obtained from reliable sources and is accurate. However, this website is not intended to give legal, tax, accounting or other professional guidance. We recommend appropriate advice be taken prior to initiating action on specific issues.