GST fraud, Manpasand Beverages officials arrested

Manpasand Beverages on GST fraud was arrested by the Central Goods and Services Tax (GST) Commissionerate Vadodara-II sleuths.

CGST Vadodara-II said that “the company’s Managing Director Abhishek Singh, his brother Harshvardhan Singh and the Chief Financial Officer Paresh Thakkar are arrested after a raid on May 23.”

“Multi-locational searches were conducted on various premises of Manpasand Beverages on May 23. The searches resulted into an unveiling of a huge racket of creating fake units for availing fraudulent credit and committing tax evasion of Rs 40 crore and involving turnover of Rs 300 crore approximately,” said the CGST statement.

With 12,00 crore capitalization, Manpasand Beverages is listed on the stock exchanges. The CGST in its report mentioned that during investigation it has discovered that a network of more than 30 fake units in various parts of the country. These fake units were used to commit fraud by availing illegal credit.

CGST Vadodara-II also reported that the investigation for the same is under process.

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