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| State Taxes Jammu detects tax evasion, seals Silk Expo | | | Early Times Report
Jammu, Dec 22: On the instructions of Commissioner, State Taxes, Jammu, P.K. Bhat, a team of officers of the State Taxes Department inspected the Silk Expo at Jehlum Resort, Jammu. The team consisted of Additional Commissioner, State Taxes (Administration & Enforcement), Jammu, Mohammad Shahid Saleem Dar. A huge tax evasion was noticed as a total value of the material for sale was disclosed at Rs.18 lakh only. During inspection the total value of the material available for sale turned around Rs.1.62 crores. The Silk Expo is going on from 15th of December 2018 and per day a sale of around Rs.4 lakh has been recorded. The Silk Expo has been sealed by the State Taxes Department to ensure no further tax evasion due to further sales as no proper invoices have been issued till date and there is every apprehension of further tax evasion in case it is continued to run. The spokesman of the department added that such expos hit the local traders, who are doing genuine and honest business, very hard as their sales in the market get harshly affected. The department shall be tightening its noose on all such irregular sales so that the regular & honest tax payer dealers are secured. The spokesman said that the Silk Expo has got registration as Casual Taxpayer under GST law and has deposited only Rs.5,000/- SGST and similar amount of CGST and as per law the casual taxpayer has to deposit tax leviable in advance in his electronic cash ledger to be calculated on the basis of the stock. |
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