Karimnagar Businessman Held in Fake Granite Billing Case

The Hyderabad zonal unit of Directorate General of GST Intelligence (DGGI) has arrested a businessman Srikanth from Karimnagar in connection with alleged tax evasion. 

After arresting him, the officials produced him before the economic offences court in Nampally after which it remanded him to judicial custody. The DGGI conducted extensive inspections at the offices of several granite shops and transporters in Karimnagar in the last two



days.

 It was found that granite worth about Rs 100 crore was moved through invoices and waybills generated by the bogus company.

Officials said Srikanth allegedly played a key role in this massive granite syndicate. He also generated e-way bills worth Rs 100 crore.

However, these supplies were not found in the GST return. No tax paid. The zero business conducted by Srikanth was estimated to have tax evasion of Rs.16.96 crore.