Karnataka - Bangalore   

More evaders under scanner

BANGALORE: Iron and steel manufacturers in Bellary and Goa who were evading Central excise duty and creating bogus invoices to secure Central Value Added Tax (CENVAT) credit have come under the scanner of the Central Excise Intelligence (Bangalore Zone) with detection of nearly Rs. 5 crore tax evasion.

Speaking to presspersons here on Wednesday, Additional Director-General of Central Excise Intelligence Somesh Arora said that manufacturers of sponge iron located around Bellary were evading central excise duty by clearing the final goods without payment of duty.

In Goa, an iron and steel manufacturer was receiving the CENVAT credit on the basis of only the documents, without receiving the goods physically, Mr.Arora added.

Mr. Arora said that several manufacturers simply printed the invoice to receive CENVAT credit, and it takes nearly two to three months to investigate the matter since backward verification had to be done physically in the absence of computerisation. Cases of central excise duty evasion and creation of bogus invoices have also been detected in Raipur (Chhattisgarh), Mandigovindgarh (Punjab), Mumbai and Silvassa, he added.

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