Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: list of goods taxed at 4% :: VAT RATES :: cpt :: TDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARDS :: due date for vat payment :: ACCOUNTING STANDARD
 
 
VAT (Value Added Tax) »
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?

To evade tax, traders stock goods in UP, Haryana towns
August, 31st 2015

The Delhi government unearthed a tax evasion scam worth crores where traders have been stocking imported goods in Haryana and Uttar Pradesh before sale in the Capital to avoid VAT.

VAT or value-added tax is a major source of revenue for Delhi. The AAP government set a target of Rs 24,000 crore for 2015-16, and to achieve this, the VAT department has been carrying out numerous raids to identify defaulters.

Following an extensive survey, the department of trade and taxes conducted an inter-state operation to crack down on evasion. It was found that over 100 medium-size traders with an average turnover of Rs 200-600 crore per year had not paid taxes to the Delhi government for quite some time, despite selling goods in the Capital, said sources.

The value of the evaded portion of tax is yet to be ascertained, and records are being checked to see if they paid taxes to states where goods were stored.

“We have done our investigation and have found that these traders, a majority of who deal in grocery products, dry fruits, etc., have neither paid taxes to us nor to the neighbouring states such as Haryana or Uttar Pradesh. They have stocked their goods in the neighbouring states. We are verifying their records and will impose a heavy penalty on them, which will be equivalent to the tax that they need to pay,” said a senior Delhi government official.

Senior Delhi government officials said a team was sent to carry out a thorough investigation and videographers were also sent along to ensure that everything is recorded.

“Considering Delhi doesn’t really have border check posts where each and every truck is checked, it was quite easy for these traders to transport their goods from one place to another whenever required,” added the official.

Officials further said a scheme is in the works to reward informers as well as encourage people to ask for bills.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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