Hyderabad, July 30 -- Commercial Taxes Department here unearthed a major Goods and Services tax (GST) evasion scam by a city-based company named. Keshaan Industries LLP, the company, was found indulging in 'unprecedented tax fraud' by allegedly generating high-value tax invoices for the supply of copper materials without any corresponding movement of goods.

"This sophisticated form of tax evasion raising invoices without actual supply of good is the first of its kind to be detected in Telangana. It represents a dangerous new trend in GST-related fraud. The company fraudulently availed Input Tax Credit (ITC) of approximately Rs.33.20 crores through such bogus transactions, thereby reducing its output tax liability," said the Commercial Ta...