Rs 66-cr excise notice served on Ind-Swift : The Tribune India

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Rs 66-cr excise notice served on Ind-Swift

CHANDIGARH: In the first major crackdown against companies facing a Vigilance probe for a scam running into crores of rupees, the UT Excise and Taxation Department has served a notice on the Ind-Swift company for depositing Rs 66 crore after an assessment by the department.



Ramkrishan Upadhyay  

 Tribune News Service

Chandigarh, October 16

In the first major   crackdown  against companies   facing a Vigilance  probe  for a scam running into crores of rupees, the UT Excise and Taxation  Department  has served  a notice on the Ind-Swift  company  for  depositing  Rs  66 crore after an assessment by the department.

The scam  came to light  during the hearing of a case of the  company  in the   court  of Parimal  Rai, Adviser to the UT Administrator.

Sources said the  Excise  Department  had imposed a penalty of Rs 5.90  crore on the  firm, which was  challenged by  the company. During the  hearing   of the  case, advocates  presented “the  order  of the  settlement” in just  Rs 5,000, which raised the  Adviser’s suspicion, who  ordered a probe.

The  probe  opened a Pandora’s box  and  over   900  cases  were  found  in which fake  entries had been made. In the preliminary inquiry, it was revealed that the fake entries  were made on computers, while the papers of the  assessment   were not available   in the department. After the inquiry, the department   handed  over the  matter  to the Vigilance   for further probe. Later, the  Administration  handed over the  case to the  crime  branch of the  police.

The sources said the  entries were  made to show  that the  firms  had deposited the  tax, but in reality,  it was never  deposited with the  government.

RK Chaudhary, Assistant  Excise  and Taxation Commissioner, said a majority  of the cases  were in the  final stage of assessment. The department  will recover the  tax  along with penalty from the defaulters.  

 The sources  said the scam  was  perpetrated in connivance with employees of the Excise and Taxation Department  and settlement orders were issued to dealers. While the companies did not pay tax to the department, it was shown as paid in the department records. It  is expected  that  the scam   may cross the figure of Rs  400 crore.

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