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: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: list of goods taxed at 4% :: form 3cd :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT RATES :: ACCOUNTING STANDARDS
 
 
Customs and Excise »
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes
 The Customs and Central Excise Duties Drawback Rules, 2017
 Man fleeing from Customs arrested
 Refund of amount on account of double-payment of Customs
 SC paves way for trial against RIL in 1987 excise evasion case
 GST: Govt sets up panel to receive profiteering complaints
 IGST on high-seas sale of imports is levied only during customs clearance
 Central Excise Rules, 2017 – Part II
 Central Excise Rules, 2017 – Part I
 Allocate the charges amongst the Members of the Central Board of Excise and Customs
  Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.

Excise department detects tax evasion of Rs 362 cr from Chennai zone
January, 15th 2013

Excise duty and service tax evasion of about Rs 362 crore has been detected up to December in the current financial year by the Chennai zonal unit of Central excise department.

"During the current financial year (up to December 2012), the Directorate General Of Central Excise Intelligence, Chennai Zonal Unit has detected central excise duty and service tax evasion to the tune of Rs 362.45 crore," the department said in a statement.

It recovered an amount of Rs 76.88 crore on the spot voluntarily from various evaders, up 17 per cent from Rs 65.49 crore over the same period a year ago.

The department booked cases against manufacturers of iron and steel products who were suppressing production and clandestinely removing their dutiable finished goods without payment of duty, it said.

"Cases where CENVAT (Central Value Added Tax) credit was taken on the basis of bogus invoices which have been obtained from various firms /registered dealers without actually receiving the corresponding goods /raw materials were also detected," it added.

Without mentioning name of a firm, it said clearing and forwarding agents of a reputed watch manufacturer were found altering the maximum retail price on watches, subsequent to their clearance from factory, resulting in evasion of central excise duty.

The Excise department also booked cases of service tax evasion against assessee in airport services, works contract services, banking and financial services, intellectual property services, scientific and technical consultancy, commercial construction, outdoor catering, and commercial coaching, among others.

"There have also been cases against public sector undertakings booked by this Directorate. It was noticed in a lot of cases where significant amount of service tax have been charged and collected by the assesses but same has not been deposited with the government exchequer."

The Directorate also detected excise and duty evasion of Rs 300.63 crore and recovered Rs 100.03 crore on the spot from Ahmedabad Zonal Unit.

"...certain big manufactures of pharmaceutical products have been making payments in foreign exchange abroad for availing various types of services for promotion of their products abroad," it said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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