GST authorities demand tax evasion by Mumbai-based Suumaya Industries

The Mumbai-based Suumaya group is under the spotlight for alleged GST fraud. The company’s shares have been tumbling for days and hit the lower circuit on Tuesday.

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CNBC-TV18 learns that GST authorities are currently scanning various group entities for suspicious transactions. Authorities say the system reported transactions worth Rs 958 crore made by Suumaya Industries in April 2021. GST authorities in Mumbai also arrested 3 people, including a CA in the case.

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