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: VAT Audit :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: due date for vat payment :: empanelment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
Sales Tax »
 India finalises bills to launch new sales tax in July
 NMC to implement new tax system from Apr 1a
 13 per cent sales tax boost post demonetisationa
 Arun Jaitley May Lower Corporate And Income Tax Rates But Hike The Service Tax Rate
 Tax on high seas sales becomes dispute area
  State extends GST enrolment deadline
 State extends GST enrolment deadline
 To protect its status, state forms panel to draft legislation on GST
 India Fails to Break Deadlock on New Sales Tax
 Sales tax staff protest against goods service tax council
 Income tax survey on city jeweller

Rs 125 crore sales tax evasion racket busted in Mumbai
June, 13th 2014

The sales tax department has lodged 47 FIRs, involving over Rs 15 crore, against steel traders for tax evasion and will register 217 more FIRs in the next few days. After all 264 FIRs are registered, it will be biggest case in Mumbai in terms of sales tax complaints at one go.

"After calculating the tax evaded in all 264 cases, we found that it's an Rs 125-crore scam," said an officer. More than 1,000 people have been booked for cheating, forgery and using fake documents. Nisar Tamboli, zonal DCP, said, "The cases are spread over five-six years. It's a huge investigation and we are in the process of filing the FIRs."

A few months ago, while going through an internal audit, the department found that hundreds of traders had not paid sales tax in the last three years and used fake documents to get the Tax Identification Number. They then approached the V P Road police station.

A team of five cops, led by inspector Sanjay Kamble, found that several firms were floated and bank accounts opened using fake documents, including electricity bills and ration cards.

The major defaulters include Asian Metal Industries, Rohan Steel Impex, Ambe Steel Center, Deep Metal Pvt Ltd.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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