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 :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: articles on VAT and GST in India :: cpt :: due date for vat payment :: empanelment :: VAT RATES :: form 3cd :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4%
 
 
« 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

Rs 5cr VAT evasion on cigarettes found, erring transporter faces recovery
July, 16th 2013

In probably the biggest recovery so far from a transporter for helping evasion of VAT on cigarettes, the excise and taxation department is sending notice of recovery for Rs 5 crore to a Phagwara-based transporter, Sadhu Freight.

According to sources, the amount was finalized on Monday evening which included VAT of Rs 2.75 crore and penalty for evasion.

The department had reportedly raided five transport companies in Jalandhar and Phagwara a few days back after getting information that they were transporting goods while helping the traders to evade tax. Papers related to transportation of cigarettes have been recovered from Sadhu Freight, they said.

"We asked the transporter to reveal the names of consigner and consignee, but they refused. In such cases, the Punjab VAT Act provides that the tax and penalty are to be recovered from the transporter if the latter does not reveal the name of traders," revealed deputy excise and taxation commissioner Sarojani Gautam Sharda. She confirmed that notice for recovery of Rs 5 crore was being sent to the transporter.

Sources revealed that Nakodar-based traders of cigarettes were under the scanner of the department. "Cigarettes had the highest VAT of 55% and in this case, the computations were very realistic as prices of local brands were factored in. It will be very difficult to refute these figures as we have taken the realistic costs of local brands," an official said. The transporter had also tried to drop names of senior political leaders, but that did not help, sources revealed.

Meanwhile, the department has tightened the noose around bakeries also and a few sweet shops have also come under its scanner, as they were trading in bakery items also, sources said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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