Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: empanelment :: form 3cd :: VAT RATES :: VAT Audit :: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: due date for vat payment
 
 
Service Tax »
 Why is the successful roll-out of the e-way bill necessary?
 How service tax became revenue lifeline for the Govt
 Three simple tricks to save income tax without investing fresh funds
 Goods and Services Tax (Compensation to States) Amendment Act, 2017.
 Services sector need to brought under Section 72A of the Income-Tax Act
 Simplifying GST: Creating a Grand Simple Tax
 The way ahead for goods and services tax
 Goods & Service Tax (GST): Recent Clarifications
 Tax payers can see status of returns filed on GSTN portal
 Export And Import Of Goods Under GST
 The Finance Resolution And Deposit Insurance Bill, 2017

Over Rs 160cr recovered from excise duty and service tax evaders
November, 04th 2014

In a crackdown on tax evaders in the period between April and September this year, the Directorate General of Central Excise Intelligence (DGCEI), Ahmedabad zonal unit, recovered around Rs 160 crore as excise duty and service tax. According to officials, more than Rs 300 crore evasion of excise duty and service tax was detected in the first six months of the financial year 2014-15. The DGCEI has also issued more than 100 show cause notices to various companies.

Sources said that the maximum recovery was made from chemical manufacturers and urea makers. In the case of excise duty evasion, DGCEI officials found that some of the assessees had been claiming CENVAT credit on the basis of bogus invoices from various registered dealers, without actually receiving the raw material.

"Last year we had also booked cases against urea manufacturers involved in duty evasion of more than Rs 100 crore," said a DGCEI official.

In the case of service tax recovered, many companies had not paid service tax under reverse charge mechanism. Officials also found that certain big corporate houses and manufacturers had been making payments abroad in foreign exchange to avail external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCB) from abroad, but not paying service tax on it.

In 2013-14, DGCEI, Ahmedabad zone, had detected evasion of central excise duty and service tax to the tune of Rs 1,070 crore, up by 16% from 2012-13 when total detection of evasion was Rs 923 crore. Out of the total evasion, Rs 730 crore was in excise duty while in service tax, the evasion was Rs 340 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions