Bengaluru based Ambica Constructions CEO held for evading rs 116cr Tax

Cracking down on tax evasion, Directorate General of Goods and Services Tax Intelligence (DGGI), Bengaluru zonal unit, Intelligence (DGGI), Bengaluru zonal unit, uncovered a multi-crore fraud alleged involving Bengaluru-based Ambica Constructions and Contractors, which is engaged in work contract services, and arrested its CEO, Praveesh Kuzhipally. The company was found guilty of violations under GST Act, 2017, including fraudulent availment of ineligible input tax credit (ITC), suppression of taxable turnover and non-payment of collected taxes to the govt amounting to approximately Rs 116 crore. According to a DGGI release, the company falsely availed ITC based on invoices from bogus suppliers. "Using advanced data analytics tools and RFID-tracking of vehicle movements, it was found that the firm unlawfully claimed over Rs 11.8 crore in ITC from non-existent suppliers. Kuzhipally has been remanded in judicial custody for 15 days. The company has already paid over Rs 3.1 crore of its outstanding dues voluntarily.
 

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