CRACKDOWN: SGST Acts Against Real Estate Players; Prominent Builders Deposit ₹9 Cr GST

Indore (Madhya Pradesh): Following crack down on 4 prominent builders and colonisers of the city in the way of search action at their offices State Goods and Service Tax (SGST) Department, builders deposited a whopping Rs 9 crore as GST in cash and Input Tax Credit. After scrutiny of documents, the due amount of GST payment may increase further.

On the direction of Additional Commissioner Rajnee Singh, in a state-wide action on prominent builders-cum-colonisers, over 40 officers of the SGST Department from the city also launched the search action against renowned builders-cum-colonisers of the city from Thursday.

The action was carried-out at offices of BCM Group, M Chaugh, Monark Developers and Sunil Agrawal and Associates. Basically these are major GST payers also, but they missed proper compliance of GST, thus they cannot be considered as tax evaders.

However, the search action which was carried-out at each of the 4 offices of the builders-colonisers concluded on Saturday. ‘Altogether GST of Rs 9 crore in the way of cash and ITC was paid on the spot by 4 builders including BCM Group, M Chaugh Group, Monark Developers at the end of the action.

Since, promoters of Sunil Agrawal and Associates are out of the city, they could not make the payment of GST. All four are considered as leading builders of the state, which run various projects.

The unique features of these are that they prepare projects for customers of every class of the society. The investigation revealed that they did not evade GST deliberately, but made compliance failure, sources informed this correspondent.