In Noida, officials of Income tax and GST departments raided various premises of a garment exporter and recovered unaccounted cash of Rs. 60 lakh.
The company, United Exim, is known for garment exports to various countries.
The search operation was conducted in Sector-65B and Sector-63C.
As per media reports, the company has made a fraud Input tax credit of Rs. 1.5 crore and it is now being fined heavily.
The officials investigated the company’s documents and interrogated the staff. The media quoted officials and sources saying that there was a difference in stock.
Overall the company has been asked to pay a fine of Rs. 4.80 crore. The search operations and investigation continued for almost a full day.
If sources are to be believed, the team of officials also have a few more companies on their radar.
