Copper Trader Denied Bail in ₹19 Crore GST Evasion Case
In a significant step against GST evasion, the Additional Metropolitan Magistrate in Surat rejected the bail plea of Sandeep Anwar Virani, a partner at Fortune Copper Industries. The authorities arrested Virani on November 13 for allegedly evading ₹19 crore in GST. As a result, he remains in custody while the investigation progresses.
Parallel Arrest in ₹34 Crore Evasion Case
Meanwhile, the state GST department arrested Pragnesh Kantariya, a partner at M/s Infinity Exim, on December 3. Kantariya allegedly evaded over ₹34 crore in GST. Consequently, the court remanded him to custody until December 9, as investigators intensified their probe into the case.
Background of the Case
These arrests are part of a larger investigation that followed search and seizure operations conducted on November 11. Officials targeted firms suspected of committing tax fraud.
Key Developments:
- Locations Raided: Authorities conducted searches in Surat, Rajkot, Bharuch, Vapi, Junagadh, and Bhavnagar.
- Number of Firms Involved: The investigation scrutinized 14 firms, including Fortune Copper Industries and Infinity Exim.
- Nature of Fraud: Investigators revealed that these copper trading firms allegedly evaded substantial GST, causing significant revenue losses to the state government.
Ongoing Investigation
Key Actions:
- Further Interrogation: Investigators are closely questioning both accused individuals to uncover additional fraudulent activities.
- Evidence Analysis: Officials are examining seized documents and digital data to identify accomplices and estimate the full extent of tax evasion.
Implications
These arrests demonstrate the government’s intensified crackdown on GST fraud, particularly in high-value industries like metal trading. By addressing such evasion, authorities aim to safeguard state revenues and uphold the integrity of the tax system. Moving forward, this case may establish stricter enforcement measures and serve as a deterrent to potential tax offenders.
