Economic Fraud
Diwali Celebrations Marred as Major Firecracker Company Exposed in Crores-Worth GST Evasion Raid
The Special Investigation Branch (SIB) of Ghaziabad’s GST department conducted an extensive raid on Golden Trading Agency, popularly known as the “cracker king” of the district, located on Meerut Road near Diwan Public School. A 20-member SIB team meticulously inspected the agency’s records for nearly 11 hours on suspicion of GST evasion, uncovering potential irregularities involving more than six crore rupees.
Atul Chaukdayat, the owner of Golden Trading Agency and a prominent figure among firecracker manufacturers and sellers in the region, became the focal point of the operation. The raid commenced on Monday evening. Concurrently, a second raid targeted one of Chaukdayat’s warehouses in Bhojpur, where it was discovered that he had absconded, leaving the office locked. Notably, the agency’s main laptop, essential for investigation, was reportedly removed from the premises, raising suspicions of intentional data concealment.
According to Deputy Commissioner BK Dipankar, the office was unsealed on Tuesday evening following an application, and further investigation continued until Wednesday morning. A range of documents, including cash flow records and tax returns, were scrutinized. Authorities also noted that certain records and crucial paperwork appear to have been intentionally concealed or removed. Remarkably, the building layout was described as maze-like, likely designed to hinder access to specific areas and documents.
The SIB’s investigation has, so far, led to the recovery of approximately one crore rupees in taxes from Atul Chaukdayat, along with associates Saurabh Singhal and Gaurav Singhal. The team is now extending the audit to cover bills and returns spanning up to five years as they continue to investigate the full extent of the suspected tax discrepancies.