Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES
 
 
« Service Tax »
 Indian GST is significantly unique, but is it better?
 GST example of national integration
 6 reasons you need not fear the GST regime
 Tax return filing extension on GST may not be enough
 GST: ‘Tech readiness, tax administration key challenges’
 GST return filing rules relaxed for Jul-Aug, July 1 rollout
 GST Council gives return filing breather to India Inc for 2 months
 All eyes on 18 June as GST Council meets to iron out niggling issues
 GST Council's June18 meet to finalise e-way bill, anti-profiteering rules
 Valuation of Tax liabilities Under GST Regime
 Govt to go soft on GST monitoring for a few months, let traders settle down

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 2017 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