Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft
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: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: empanelment :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: cpt :: VAT Audit :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
л Customs and Excise »
 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.
 4 new members appointed in Central Board of Excise and Customs
 Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.
 Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017
 Central Board of Excise and Customs to soon notify new procedural framework
 CBEC set to be Central Board of Indirect Taxes and Customs
 Govt to give customs, excise duty benefits to boost solar rooftop sector
 Clarification regarding posting of Central Excise officer in Cigarette units-reg.
 Ensure transparency in excise department working: Bizmen to government
 It is time to review the customs duty on essential food imports

CBEC detects Rs 24 cr central excise duty evasion by Bhushan Steel Limited
May, 22nd 2013

The Revenue Department today said it has detected a case of central excise duty evasion estimated at Rs 24 crore against Bhushan Steel Limited (BSL).

"Investigation conducted by Directorate General of Central Excise Intelligence (DGCEI) so far indicated irregular availment of Cenvat credit to the tune of Rs 24 crore approximately by Bhushan Steel Limited," the Central Board of Excise and Customs (CBEC) said in a statement.

Extensive searches were conducted at 14 places across the five states Delhi, Maharashtra, Uttar Pradesh, Uttara Khand and Rajasthan including their factory and trader's godowns at Delhi, Aligarh and Agra and transporter's offices at Udaipur and Haridwar on March 20, 2013, it added.

DGCEI has booked a case against Bhushan Steel Limited, a manufacturer of hot and cold rolled galvanised products for fraudulent availment of Cenvat credit on zinc ingots purchased from Hindustan Zinc Ltd, Haridwar on the basis of invoices only without receiving the goods, the CBEC said.

It said during preliminary inquiry, the key officials of BSL including their vice vhairman-cum-managing director admitted to the modus operandi and an amount of Rs 12 crore has been deposited towards their duty liability.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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