Guwahati, Oct 18: In a major crackdown on tax evasion, the Directorate General of GST Intelligence (DGGI), Guwahati Zonal Unit, has unearthed a massive ₹83-crore fraud involving clandestine business operations by one Mukesh Agarwal (46), the alleged mastermind behind M/s Balaji Concast and M/s Balaji Steel Rolling Mills.
According to official sources, Agarwal was arrested after investigations revealed that he had been engaged in the secret manufacture and supply of MS Ingots and TMT Bars without issuing GST invoices.
The illegal transactions led to an evasion amounting to approximately ₹83 crores, in violation of Section 16 of the Central Goods and Services Tax (CGST) Act, 2017, which mandates proper documentation and invoicing for availing input tax credit.
Following his arrest, Agarwal was initially remanded to departmental custody, and his bail plea was rejected by the competent judicial authority.
Subsequent hearings also saw his bail denied, after which he was sent to 14 days of judicial custody.
A senior DGGI official stated that the arrest serves as a stern warning to tax evaders and fraudulent operators who attempt to misuse the GST framework for illicit gain.
The investigation continues to trace other entities linked to the racket and recover the evaded amount.
The Directorate reiterated its commitment to maintaining the integrity of the GST system and urged all business establishments to ensure transparency and compliance with the law to avoid strict penal action under the CGST Act.
, Guwahati Zonal Unit, has unearthed a massive ₹83-crore fraud involving clandestine business operations by one Mukesh Agarwal (46), the alleged mastermind behind M/s Balaji Concast and M/s Balaji Steel Rolling Mills.){kind=link}