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: TDS :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: empanelment :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
VAT (Value Added Tax) »
 15% rise in collectionof VAT for Oct-Nov
 China to simplify tax scheme after switch to VAT
 Cabinet clears key proposals on VAT, regularisation of jobs
 Cases of VAT overcharging flood consumer forum
 State seeks relief from Centre
 Flat rate VAT changes for small businesses explained
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation

Excise department raids firm for non payment of VAT
April, 05th 2016

In a bid to tighten the noose on the Value Added Tax (VAT) defaulters, Haryana Excise and Taxation department on raided the premises of a firm here.

A team led by Deputy Excise and Taxation Commissioner (East) Gurgaon raided the premises of the firm located in Udyog Vihar Phase-I of the city following a complaint at the department's headquarter in Chandigarh.
The complaint was forwarded by Excise and Taxation Commissioner Shyamal Mishra to the DETC (East) for enquiry and verification.

According to DETC (East) Samir Yadav, the firm registered in the name of one Subodh Gupta had raised a bill of Rs 2,54,53,125, including VAT of Rs 29,53,125, for selling a painting to Director, National Gallery of Modern Art, Delhi in August last year.

The price of the painting was Rs 2.25 crore But on checking the records at Director General of Audits, it was found that the seller firm had neither shown the VAT amount in its quarterly returns nor deposited the VAT with the government.

A notice was served but the firm failed to respond, so the premises of the firm was raided on Tuesday, Yadav said.

As per rules, if a firm fails to deposit VAT and it is proved, then it had to not only deposit the entire amount of VAT evaded but also fine along with it.

The move by Excise and Taxation department came following directions by Minister Capt Abhimanyu, who is said to be not happy with the tax recovery of the department.

According to Yadav, a noted cars designer and customiser, was also found to be not filing VAT returns for last one year.

He was caught and an amount of Rs 22 lakh was recovered from him as tax and fine, he said.

Similarly, an agency of Ford motor company here was also found to be not filing VAT returns for last one year and an amount of Rs 2.50 crore was recovered from it, Yadav said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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