Trade tax team find tax evasion worth Rs 65 cr in raid

\ Bulandshahr, Oct 27 (PTI) A trade tax team has unearthed\cases of tax evasion worth Rs 65 crore in a raid conducted on\four units of a cement manufacturing group in Sikandrabad\Industrial Area here.\ The team consisting of 30 officers was headed by Joint\Commissioner of Trade Tax V P Katyar. The team detected the\evasion of trade tax by these units.\ According to Katyar, the modus operandi of the factories\was to show the sale of their products from outlets outside UP\where a merely 2 per cent tax is to be paid but the sales were\made from these units at Sikandrabad where the tax slab is\14.5 per cent leading to tax evasion of 12.5 per cent, said\the Joint Commissioner of Trade Tax.\ The detection of Rs 65 crore was made on the basis of\documents seized during the raid.\ The scrutiny of papers is in progress and the figure of\tax evasion is likely to touch a much higher amount than\disclosed, Katyar said. PTI CORR\UZM\

LEAVE A REPLY

Please enter your comment!
Please enter your name here