Shayona colors private limited - Latest News Update, Information, Photos & Videos on Shayona colors private limited at Lokmat Times

Ahmedabad, June 9 An Ahmedabad-based businessman was arrested on Friday on charges of bogus billing which led to fraudulent tax credit of Rs 15.62 crore.The arrested businessman has been identified as Pareshbhai Dayaljibhai Patel. The arrest came in wake of an intensified campaign launched by the department of Goods and Services Tax (GST) in Gujarat to crack down on tax evasion cases.Patel, who is associated with Ahmedabad-based firms Shayona Colors Private Limited and Shamrock Chemical, was arrested following a raid conducted by the state GST department. The department's search operation unearthed incriminating documents from Hari Om Metal and Shayona Industries at Kalol, which are linked to Patel.An in-depth examination of these documents is currently underway.Preliminary investigations have revealed that Patel managed to secure bogus tax credits through fabricated bills amounting to Rs 12.37 crore from Gujarat-based firms and Rs 3.25 crore from Maharashtra-based firms.These transactions were recorded without any physical movement of goods between the concerned firms.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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National :Ahmedabad businessman arrested for fraudulent tax credit of Rs 15.62 cr

Ahmedabad, June 9 An Ahmedabad-based businessman was arrested on Friday on charges of bogus billing which led to ... ...