Excise Department Raids a Firm to Recover VAT

In a bid to tigheten the noose on VAT defaulters, Haryana Excise and Taxation department raided premises of a firm.

Published: 05th April 2016 04:20 AM  |   Last Updated: 05th April 2016 04:20 AM   |  A+A-

By PTI

GURGAON: In a bid to tigheten the noose on the VAT defaulters, Haryana Excise and Taxation department today raided the premises of a firm here.

A team led by Deputy Excise and Taxation Commissioner (East) Gurgaon raided the premises of the firm located in Udyog Vihar Phase-I of the city following a complaint at the department's headquarter in Chandigarh.

The complaint was forwarded by Excise and Taxation Commissioner Shyamal Mishra to the DETC (East) for enquiry and verification.

According to DETC (East) Samir Yadav, the firm registered in the name of one Subodh Gupta had raised a bill of Rs 2,54,53,125, including VAT of Rs 29,53,125, for selling a painting to Director, National Gallery of Modern Art, Delhi in August last year.

The price of the painting was Rs 2.25 crore

But on checking the records at Director General of Audits, it was found that the seller firm had neither shown the VAT amount in its quarterly returns nor deposited the VAT with the government.

A notice was served but the firm failed to respond, so the premises of the firm was raided today, Yadav said.

As per rules, if a firm fails to deposit VAT and it is proved, then it had to not only deposit the entire amount of VAT evaded but also fine alongwith it.

The move by Excise and Taxation department came following directions by Minister Capt Abhimanyu, who is said to be not happy with the tax recovery of the department.

According to Yadav, a noted cars designer and customiser, was also found to be not filing VAT returns for last one year.

He was caught and an amount of Rs 22 lakh was recovered from him as tax and fine, he said.

Similarly, an agency of Ford motor company here was also found to be not filing VAT returns for last one year and an amount of Rs 2.50 crore was recovered from it, Yadav said.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp