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 :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: TDS :: VAT Audit :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARDS
 
 
VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

Bogus bill scam: 8 cr Vat evasion detected
September, 03rd 2011

A bogus billing scam to fraudulently get input tax credits from the Gujarat commercial tax department has been unearthed. Officials have detected Rs 8 crore value added tax (Vat) evasion through such bogus bills involving 12 traders, including five traders from Ahmedabad and four from Bhavnagar. The traders were involved in giving bills with cancelled sales tax registrations numbers.

"We had information about a state-wide scam of bogus bills. After gathering intelligence, we carried out searches on the premises of these 12 traders and detected an evasion of Rs 8.22 crore. We collected Rs 3.12 crore of evaded tax on the spot," said a senior Gujarat commercial tax official.

Officials said that many more traders who have used these bills to either evade entry tax or fraudulently take input-tax credit from the department are under the scanner. The department had earlier found couple of tax consultants helping traders with bogus bills of companies whose registrations have been cancelled to evade tax or take false credit. tnn

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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