UditVani,Jamshedpur : A team from the Goods and Services Tax (GST) Department on Tuesday conducted a surprise raid at Amalgam Steel & Power Limited — formerly known as Modern Alloys — amid suspicions of large-scale tax irregularities in neighbouring Seraikela- Kharsawan district.
According to sources, a three-member investigation team from Jamshedpur arrived at the company’s Seraikela plant early in the morning and spent nearly four hours examining financial records, invoices, and transaction documents.
The unannounced operation created a stir both inside the industrial unit and in the adjoining areas, with employees and local residents witnessing heightened activity throughout the day.
While the GST Department has not issued an official statement, preliminary information suggests that the search was prompted by credible intelligence indicating possible tax evasion or discrepancies in GST filings. Officials have seized several documents and digital records for further scrutiny.
The final report is expected to clarify the extent of any financial misreporting.
As of now, the company management has refrained from commenting on the developments.
Amalgam Steel & Power Ltd is a key player in the regional alloy and steel manufacturing sector, and any tax compliance issues could have broader implications for its operations and credibility within the industry.
