Online edition of India's National Newspaper
Wednesday, Jan 17, 2007
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Online edition of India's National Newspaper Wednesday, Jan 17, 2007 ePaper |
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Bangalore
Special Correspondent
Bangalore: Traders evading Central Excise and Cenvat may now face one more method of penal action. One that could affect their business for specified periods. "Details of six offences related to evasion of duty or Cenvat through fabricated documents and false invoices have been listed under a Notification No: 32/2006-CE(NT) and offenders will now be dealt with," K.S. Nair, Chief Commissioner of Central Excise and Service Tax, Bangalore Zone, said here on Tuesday. He told presspersons that in cases where the dues evaded were over Rs. 10 lakh, the trader or company would be imposed restrictions not applicable to those voluntarily paying taxes. Monthly payment of duties would be withdrawn. They could not remove goods without invoices countersigned by Central Excise officers and the trade registration might be suspended. "This fiscal, up to the end of December, there were 51 cases with Rs. 31 crore taxes involved ," Mr. Nair added.
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