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: empanelment :: ACCOUNTING STANDARD :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: VAT RATES :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

Inter-state racket of tax evasion busted
August, 18th 2012

An inter-state racket of large-scale evasion of excise duty and value-added tax (VAT) involving fake bills and private transporters has been unearthed during a special operation carried out by the intelligence wing in Bathinda.   As the Punjab government continues to

lose hundreds of crores yearly due to smuggling of trade goods by organised mafia, an operation supervised by Bathinda inspector general, intelligence, Dr Jatindra Jain has found that some bogus firms operating from border towns have been facilitating trucks carrying various goods to enter the state without paying VAT or entry tax by issuing them bills of the goods from within the state. Most of the goods coming to Punjab are from Haryana, Rajasthan, Delhi and Madhya Pradesh. The main commodities include groceries, pulses, sugar, edible oils, iron and scrap.

Intelligence officials told HT that so far five such bogus firms have been found -- Sonu Goyal & Company, Jagan Nath Pawan Kumar and Sons, Shri Bala Ji Trading, Sunil Enterprises and Pawan Kumar Sohan Lal and Sons.

About the modus operandi, assistant excise and taxation commissioner Jaspinder Singh said that these enterprises operating from hidden premises near Muktsar's village Killianwali on the Punjab-Haryana border have been indulging in billing of goods in the border town by showing these as being transported from one location to another within Punjab.

"The so-called factory premises are situated in such places where even cars cannot enter, while the mafia have been showing loading of trucks and canters from the same premises," intelligence official said.

The scam came to light when, following a tip-off from the intelligence wing, AETC Jaspinder Singh intercepted a canter carrying mustard oil near Killiawanli tax collection barrier. Upon verification, the bills from Killianwali to Amritsar were found fake.

Jaspinder told HT that department has been contemplating an FIR against the erring firm, besides imposing a penalty to the tune of Rs. 30 lakh. Further investigations are still on, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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