VAT: Delhi govt to soon identify `bogus traders`
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Last Updated: Wednesday, July 13, 2011, 21:53
  
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


First Published: Wednesday, July 13, 2011, 21:53


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