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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TDS :: Central Excise rule to resale the machines to a new company :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: list of goods taxed at 4% :: articles on VAT and GST in India :: due date for vat payment :: VAT Audit :: form 3cd
 
 
VAT (Value Added Tax) »
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading
 Delhi budget unlikely to have any new tax proposals this year
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi

Demand notices to two firms for evading VAT worth R2.89 crore
February, 15th 2013

The excise and taxation department has served notices to two city-based chemical firms for evading value added tax (VAT) worth Rs. 2.89 crore by producing fraudulent Input Tax Credit (ITC).

Sources said the firms, New Bhagat Chemicals and Jain Impacts, both at New Shivaji Nagar opposite Focal Point, had been served demand notices for evading tax by producing fake Input Tax Credit (ITC) for three years.

"The department had conducted inspections of these two firms owned by the same person in May 2012. A total of six assessments were done during this process. After completing all formalities, the department on Friday served demand notices to these firms," sources said.

"The firms have been asked to deposit the amount within a period of one month, failing which the department will initiate process to recover the same unless they file an appeal against the notices," they added.

The demand notice has been served by excise and taxation officer Ravinandan Sharma.

When contacted, assistant excise and taxation commissioner HPS Ghotra did not reveal the name of the owner or other details about the notices, but said he was aware of the notices, which had been served as per the provisions of law..

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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