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: form 3cd :: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT RATES :: VAT Audit :: articles on VAT and GST in India
 
 
« VAT (Value Added Tax) »
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law
  VAT returns: Relief for traders as UT allows old form
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

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