More tax evasion cases Now its a garment export unit
\nExpress News Service
\nLudhiana Newsline, India<\/p>\n
<\/p>\n
Ludhiana, July 13: After the detection of tax evasion to the tune of Rs 15 crore this April by Vishvkarma Alloys, the Central Excise Department has detected yet another fraud\u00e2\u20ac\u201dinvolving another Rs 15 crore.<\/p>\n
In a comprehensive investigation against a garment export house based in industrial area A, the department found it has claimed rebates worth Rs 15 crore over last three years. Duty invoices of Rs 12 crore were found bogus and further investigations are on, revealed VK Garg, Chief Commissioner, Central Excise Commissionerate, Ludhiana.<\/p>\n
Garg however, did not reveal the name of the export house.<\/p>\n
\u00e2\u20ac\u0153As per our investigations, three manufacturing entities had been set up in the premises without independent manufacturing facilities. Even their collective manufacturing facilities are incapable of manufacturing many of the products said to be exported. Moreover, they are highly inadequate for the scale of goods shown to have been manufactured,\u00e2\u20ac\u009d Garg said.<\/p>\n
In addition, the department also found 120 bank accounts in different banks under different names. \u00e2\u20ac\u0153To our surprise, on a single day we found cash transaction worth Rs 5.5 crore in one bank. Details of other accounts are yet to be taken,\u00e2\u20ac\u009d Garg added.<\/p>\n
Even the bank\u00e2\u20ac\u2122s role have come under scanner.<\/p>\n
Also, goods were said to have been supplied to four job workers in the records\u00e2\u20ac\u201dof which, two were found non-existent. The two others have processing capacity for a meager quantity. Many invoices from Surat-based parties were found to be fake.<\/p>\n
\u00e2\u20ac\u0153The magnitude of the fraud may far exceed the initial estimates,\u00e2\u20ac\u009d Garg added.<\/p>\n","protected":false},"excerpt":{"rendered":"
More tax evasion cases Now its a garment export unit Express News Service Ludhiana Newsline, India Ludhiana, July 13: After the detection of tax evasion to the tune of Rs 15 crore this April by Vishvkarma Alloys, the Central Excise Department has detected yet another fraud\u00e2\u20ac\u201dinvolving another Rs 15 crore. In a comprehensive investigation against […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n