close
This ad will auto close in 10 seconds

VAT: Delhi govt to soon identify `bogus traders`

In an effort to improve VAT collection and identify "bogus traders", the Delhi government will soon carry out a comprehensive scrutiny of the traders registered with it.



New Delhi: In an effort to improve VAT
collection and identify "bogus traders", the Delhi government
will soon carry out a comprehensive scrutiny of the traders
registered with it.

Commissioner of Trade and Taxes Rajender Kumar said
the department would soon launch the scrutiny to detect the
tax evaders and traders who claim Value Added Tax (VAT)
refunds showing bogus transactions.

"We are streamlining the mechanism of tax collection,"
he said at a press conference.

In a major operation, the Tax department had unearthed
a "huge scam" involving nearly 1,300 "bogus traders" who used
to claim VAT refunds by showing bogus bills and fake sells.
The department had launched a probe discretely
choosing nearly 3,000 traders in the city, each having an
yearly turn over of Rs one crore and found that nearly one-
third of them were either fake or non-functional.

Kumar said his department has set a target of
collection Rs 14,500 crore as VAT revenue in the financial
year 2011-12 as against collection of Rs 12,068 crore in the
previous year

On the proposed Goods and Services Tax, he said the
tax department was making all preparations to implement the
GST as and when it is introduced by the Centre.

PTI

From Zee News

0 Comment - Join the Discussions