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 :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: form 3cd :: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit
« Sales Tax »
 Sales tax staff protest against goods service tax council
 Income tax survey on city jeweller
 Service tax levy to weigh on upstream companies’ earnings
 5 pc tax on online sales awaits Cabinet approval
 Amendment to Additional Sales Tax Act unconstitutional: High Court
 Maharashtra will soon achieve Rs one lakh cr sales tax : CM Devendra Fadnavis
 CBEC chief bats for minimal exemptions for India Inc under GST
 Issuance of Free Sale & Commerce Certificate to Merchant Exporters
 Why model GST law does not give confidence to exporting community
 State governments tighten their grip on sales tax holidays
 Income tax dept charts plan to broaden national taxpayer base

Faridabad trader held for evading Rs 1-cr sales tax
September, 08th 2011

A Faridabad-based businessman and owner of a manufacturing unit of earthmovers and excavators was apprehended by the Central Excise department's anti-evasion wing on Wednesday for sales tax evasion worth Rs 1 crore. Umesh Soni, the owner of Hytech Earthmoving Engineers in Sector 31, was later produced in a city court which sent him to a 14-day judicial custody.

The company was found not registered with the Central Excise department and that's how Soni escaped paying any duties.

Soni was also charged with not carrying "unaccounted sale" in cash worth Rs 3.75 crore for selling his manufactured products. The officials recovered the cash during a raid at his house. Unaccounted manufactured goods worth Rs 1.05 crore were also seized.

In an official statement, the officials said they have unearthed the "most incriminating documents/records from the factory premises in the form of ledgers, revealing transactions of clandestine clearances to various firms". It was also found that the unit carried out packing/re-packing of manufactured goods, which were sold at prices determined under the Central Excise Act, 1944, without paying any sales tax.

According to the statement issued, "As per the provision of the Act, manufacture includes any process which (in relation to the goods) involves packing or re-packing in a unit container including the declaration or alteration of retail sale price on it or adoption of any other treatment on the goods to render the product marketable to the consumer."

The norm was clearly violated by the owner by not making declarations as per the provisions.During interrogation, Soni admitted that his firm was engaged in the manufacturing process between 2003 and 2009 and that goods bought out from local market or imported by them were packed in suitable packages with their logo but without making retail sale price on them, said an official.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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