The directorate general of Goods and Services Tax Intelligence Wing (GST IW), Jamshedpur regional unit, has exposed tax fraud, estimated to exceed ₹100 crore.
Led by joint director Sarthak Saxena, six teams comprising 40 members conducted raids across eight locations in Jugsalai, Adityapur, and NH-33. The 30-hour operation, which began on Friday, concluded on Saturday.
A senior GST IW officer involved in the investigation revealed that while initial findings indicate tax evasion of ₹30 crore, the amount is expected to cross ₹100 crore as the probe continues.
The primary accused, Vikas Jaisuka, and his brother Rajesh Jaisuka from Jugsalai, allegedly orchestrated the fraud by establishing fictitious companies and generating fake invoice bills worth ₹150 crore. Both are absconding.
The Jaisuka brothers own three sponge iron manufacturing units in Adityapur industrial area and the Rivaah resort and banquet at Baliguma on NH-33. They have also been involved in iron ore mining and export operations for a decade. “Vikas Jaisuka is the mastermind, while Rajesh and their associates played crucial roles in executing the tax fraud,” the official stated.
Investigators believe the brothers are part of a larger network involved in GST evasion through fraudulent practices. Probe is underway and authorities are working to uncover the full extent of the tax evasion network.
The team had last year arrested traders Amit Gupta, Shiv Kumar Deora, Gyanchand Jaiswal, and Vicky Bhalotia in GST fraud cases.
