Business
GST Raid on Migsun Builder: 15 Firms and 41 Branches Searched Across NCR
Ghaziabad: The Special Investigation Branch (SIB) of the State Tax Department (GST) conducted simultaneous raids at 41 branches of 15 firms linked to the Migsun Group across Ghaziabad, Lucknow, and Noida. The action was taken following complaints from customers regarding excess charges and penalties imposed after booking flats.
Massive GST Evasion Detected
During the 12-hour intensive raid, investigators found GST evasion exceeding Rs 10 crore. The SIB team seized computer hard disks, documents, laptops, and financial records from multiple locations. In response to the findings, Migsun Group deposited Rs 10 crore across its various branches.
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Investigation and Further Action
Authorities discovered discrepancies in the company’s records, raising concerns of fraudulent tax filings. Attempts to contact the Managing Director (MD) were unsuccessful, as he was reported to be abroad. Officials confirmed that audit proceedings and summons will be issued after a detailed review of the seized documents.
Scrutiny Expands to Other Builders
The SIB team has also started investigating Input Tax Credit (ITC) claims of other real estate firms in the district, suspecting widespread fraud. More actions against other builders are expected after further examination.
The Uttar Pradesh government had handed over the matter to the STF, following multiple complaints from homebuyers. With several irregularities uncovered, authorities are now tightening regulations on real estate tax compliance to prevent future evasion.
