Hyderabad industrialist held for evading taxes, false reporting

Rajkumar Rekhya Roopsing Nayak, Managing director of Sri Kavya Mining Infrastructures Private Limited had allegedly not reported turnover and taxes to an extent of Rs 18.55 crore

Hyderabad: The commercial tax department arrested an industrialist in Telangana for evading the tax to the tune of Rs 18.55 crore, and reporting false numbers.

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Rajkumar Rekhya Roopsing Nayak, Managing director of Sri Kavya Mining Infrastructures Private Limited had allegedly not reported turnover and taxes to an extent of Rs 18.55 crore in GST-R 3B returns.

“On verification of GST returns, it was revealed that M/s Sri Kavya Mining Infrastructures Private Limited issued GST invoices without paying taxes to the government. Beneficiary companies availed the Input Tax Credit (ITC) based on the strength of such GST invoices issued by M/s Sri Kavya Mining Infrastructures Private Limited,” said officials.

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The company allegedly routed the transactions without actual payment and issued GST invoices in passing on the ITC Credit, and the beneficiary companies utilized the same for payment of tax through credit account resulting in loss of revenue to the Government exchequer.

“Sri Kavya Mining Infrastructures Private Limited have availed ITC which is not available in GSTR-2A to the tune of Rs 4.12 crore,” said officials.

The modus operandi adopted M/s Sri Kavya Mining Infrastructures Private Limited was that it indulged in claiming of wrong ITC and issuance of fake/bogus GST invoices and passing on input supply of goods/services, facilitated the above firms to avail and utilize wrong ITC on the strength of fake/bogus invoices issued by them, commercial tax department official stated.

Rajkumar Rekhya, was arrested for an offence punishable under the provisions of the GST Act and remanded to judicial custody by the Court for Economic Offences. The arrest was made by Assistant Commissioner (ST), Saroornagar-I Circle under supervision of Joint Commissioner (ST), Saroornagar Division. Further investigation is under process to further identify the actual masterminds behind the scam.

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