CBEC books several companies for tax evasion

New Delhi, Oct 27 (UNI) The Enforcement Agencies of the Central Board of Excise and Customs(CBEC) has booked important cases involving large amount of revenue, including a major case of evasion by M/s LG Electronics India.

The Directorate General of Central Excise Intelligence, with headquarters in New Delhi, has detected a major case of evasion of LG Electronics India on the basis of information that that the assessee was not paying duty equal to the credit availed by them on imported inputs cleared to the domestic market.

A spokesperson of the CBEC told newspersons here that a team of officers visited the factory in Greater Noida and said preliminary investigation so far has revealed evasion of Rs 5.32 crore for the period March 2005 to September 2006. "The assessee has accepted the duty liability and has paid this amount. Further investigation are in progress," she said.

The spokesperson said a major case of service tax evasion by M/s Sahara India Financial Corporation Limited has also been detected.

M/s Sahara India Financial Corporation Limited pay incentive to M/s Sahara India, Lucknow, for collecting deposits from the public on their behalf. This incentive was covered under 'Business Auxilary Services'. The duty involved is Rs 39 crore.

She said the Pune zonal unit of DGCEI has detected a case of evasion of Customs duty through undervaluation by M/s Skeda Auto India Private Limited, Aurangabad. The party did not include the 'Technology Transfer Agreement Charges' in the assesable value of imported goods. Preliminary investigations revealed that the duty evaded amounts to Rs 25. The party has already paid Rs eight crores voluntarily, she said.

The Chennai zonal unit intercepted and recovered 10.565 Kg of Ketamine at Air Cargo Complex., Chennai, in an export consignment, she added. The Ketamine was concealed in the handles of grinding stones. One person has been arrested, she said.

The spokesperson said the Kolkata zonal unit intercepted and recovered five tonnes of Ganja from an oil tanker near Jorabat, Meghalaya.

UNI GS PV HT1910