Viewing 1 post (of 1 total)
  • Author
  • #11440

    Using information technology (IT) to its advantage, the UT Excise and Taxation Department has detected suspected evasion of value added tax (VAT) of over Rs 10 crore by traders conducting business in the city. The suspected evasion of VAT, in the shape of fake input tax credits (ITCs) claimed by dealers while filing their returns, have been detected in around 500 cases across the city. A fall in the revenue is said to be the main reason behind the exercise. Using a software, coded “mismatch”, that provides complete details of fake ITCs being claimed by a particular dealer, officials have detected cases in which the input tax credits claimed by the “selling dealer” do not match with those of the “purchasing dealer”.

Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.

©2020 A Venture by Megri Soft Limited a 23 year old Web Company in Chandigarh


We're not around right now. But you can send us an email and we'll get back to you, asap.


Log in with your credentials


Forgot your details?

Create Account