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: VAT RATES :: cpt :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: empanelment :: form 3cd
 
 
VAT (Value Added Tax) »
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?

VAT department likely to unearth huge tax evasion by Surat's yarn dealers
January, 31st 2014

The VAT department is likely to unearth huge tax evasion by the yarn dealers in the country's biggest man-made fabric (MMF) industry.

Over 35 yarn dealers in the city's textile market areas including Ring Road, Zampa Bazaar, Gopipura and Salabatpura were raided by the VAT officials following the tip off regarding the widespread irregularities in the yarn business.

The flying squad officials of the Ahmedabad VAT department on Tuesday carried out extensive raid operation on over 35 yarn dealers in the city's Ring Road, Zampa Bazaar, Gopipura and Salabatpura market areas and seized documents including books of accounts, invoices and other documents.

Sources said the yarn dealers have been bringing polyester filament yarn from the neighbouring Maharashtra without paying the entry tax. The yarn stock brought in the city was allegedly sold without issuing any invoices to the customers.

The VAT department had received information regarding the widespread evasion of VAT by the yarn dealers in the city. However, a raid operation was conducted on over 35 yarn dealers.

Sources said that the yarn manufacturers have been delivering their goods directly to the yarn dealers and weavers. Thousands of tones of yarn is being sold in the city on daily basis and that the yarn dealers and manufacturers indulge in widespread tax evasion by doing irregularities in the invoice and challans.

"The state government has imposed entry tax on the products entering from other states. However, the yarn manufacturers and dealers evade paying entry tax and that they sell the yarn stock without issuing legal invoice and challans to evade VAT" said a senior officer.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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