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Gujarat - Vat evasion racket busted
July, 26th 2012

A valued added tax (Vat) evasion racket involving glass sheet and mirror importers from the state has been unearthed. Gujarat commercial tax officials raided eight importers, including two in Ahmedabad and three in Surat.

 Officials found more than Rs 31 crore of unaccounted transactions in which the traders had sold off glass sheets and mirrors imported from China without bill to evade the 15 per cent Vat.
"We raided premises of Nova Impex, Shiv Corporation and Glomax Glass in Surat, and Aarav Impex in Ahmedabad last Friday. We found that the companies had imported large quantities of glass and mirror sheets from China and sold them off without paying Vat," said a senior commercial tax official.

 The officials have collected cheques worth Rs 43 lakh from a few traders and attached residential properties of those who haven't paid the evaded tax.

"In one of the cases we found that Kishore Patel, who is the promoter of Nova Impex had opened another company in the name of a rickshaw driver. He then carried out imports from China under this company and sold material without bill. The rickshaw driver was unaware of the clandestine activities," the official said. The commercial tax department has filed a case against Patel in the tax evasion case. Sources said a tax demand along with penalty of more than Rs 9 crore will be raised against the companies promoted by Patel.

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