Last Updated: December 14, 2022, 13:34 IST
On Monday, December 12, officials from the Income Tax and GST departments conducted raids in the offices and premises of Mythri Movie Makers, one of the biggest production houses in Tollywood. According to reports, the raid was carried out at their offices and properties in Hyderabad for violating the GST regulations and providing false information in their I-T returns (ITRs). The officials reportedly raided the residences of Mythri promoters Erneni Naveen, Cherukuri Mohan, and Yalamanchili Ravi Shankar in Jubilee Hills as well as Andhra Pradesh.
They allegedly discovered violations in their GST returns on the purchase of filmmaking equipment and the related taxes. The officials also reportedly verified the GST returns of last year and interrogated their auditors.
A few reports suggested that the promoters secured Rs 700 billion from various sources but failed to submit the required GST returns and also neglected to disclose the source of revenue in ITRs submitted for the fiscal year 2022–2023. I-T officials examined Mythri Movie Makers’ revenue streams and checked the company’s financial records to ensure accuracy.
In addition to that, a different group of Income Tax officers raided 15 other Mythri Movie Makers’ properties. The owners of the production house have remained tight-lipped on the matter so far. They haven’t shared any official statement to put forth their side of the story.
On Sunday, the production house organised the muhurat clap for their upcoming venture Ustaad Bhagat Singh, starring Pawan Kalyan, Pooja Hegde and Pankaj Tripathi.
The production house is also busy with the post-production works of Chiranjeevi’s Waltair Veerayya and Nandamuri Balakrishna’s Veera Simha Reddy, slated to release on the occasion of Sankranthi 2023.