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: Central Excise rule to resale the machines to a new company :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT RATES :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: empanelment
Sales Tax »
 Insurance Agency Mergers and Acquisitions in Q1 "Explode," OPTIS Partners' Report Reveals
 Sales tax sleuths raid spare parts shops in Meerut's infamous Sotiganj market
 Income Tax: How offshore income could be taxed twice
 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

FIR by sales tax dept upheld
July, 03rd 2010

In a major boost for the sales tax department, the high court has upheld criminal proceedings initiated by it against an Akolabased edible oil trader for allegedly forging documents related to transactions to the tune of Rs 96 crore for availing tax exemption.

The department, while raising tax liability of Rs 10 crore against the firms M/s Dayal Agro Products and M/s Dayal Industries headed by Pawan Bacchuka had also filed a first information report (FIR) against the promoter for submitting fake documents.

Bacchuka had, however, challenged the criminal proceedings saying that it was only a tax liability which he was ready to pay, say sales tax department officials.

However, the court in a recent verdict rejected the plea for quashing the FIR. The case pertains to investigations
carried out in 2008 when the firms sales to its agents were probed. The firms showed huge quantities of goods (edible oil) sold to its agents and branches outside the state.

The sales tax (now value added tax) provisions allow exemption from the levy when the goods are sold to an agent or a branch of a firm as it is considered a transaction within the same entity.

However, the onus of proving such a transaction lies with the dealer who also has to submit a declaration under Form F which is issued by the commercial tax officer or sales tax department of the respective state in which the sale is made.

However, on investigations, it was found that not only fake Form Fs were submitted but the transport receipts showing the despatch of consignments were forged too.

The investigating teams cross-checked the documents with various transporters and it was found that out of 190 receipts, 140 were not issued by them at all. At the same time, it was also confirmed from the respective departments that the forms were not issued at all.

This pertains to the period from 2001 to 2008. As a result, tax has also been worked out according to the rates in the sales tax regime as well as value added tax which came in to effect from 2005 onwards. The department plans to go ahead with the remaining proceedings.

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