Tax evasion of over Rs. 10 crores suspected from initial enquiry
Baddi/ Barotiwala: Excise and Taxation Department has detected fake bill practice in the Pharma Units. A Spokesperson of Excise and Taxation Department revealed that a team of Joint Commissioner of State Taxes and Excise, South Enforcement Zone Parwanoo raided a Pharma unit in Barotiwala and seized fake bills of inward supplies amounting to Rs. 4.5 crores.
The excise department has seized total fake bills amounting to about Rs. 40 crores during raids on nine such Pharma units so far.
During one such raid cash of Rs. 61 lakhs were found and the Income Tax department was informed about it, Spokesman further revealed.
Excise department is also issuing notices to other 25 Units who have received supplies from fake companies. Dept. has also tracked the main supplier of these bills and surprisingly its owner is a small-time employee living in labour quarters and earning a salary of only 15,000 per month.
Total tax evasion in these cases may cross Rs. 10 crores, the spokesman further revealed. The excise department hasn’t ruled out more such fake firms supplying fake bills in the pharma units to evade taxes. And the department has initiated a further investigation in it.