Ludhiana, Aug 4; The Federation of Punjab Small Industries of Punjab have written to the Prime Minister S. Manmohan Singh & Union Home Minister Mr. P Chandambram to order a CBI enquiry in Bogus Bill Scam of more then 20000 Crores. This roughly involves a revenue loss of more then 500 crores to the exchequer.
This scam was the plan & generation of the VAT officials as the companies involved in this scams were the newly registered companies and TIN number to these companies were allocated by the department after thorough verification and guarantees of two existing Vat registered dealers.
It was mandatory to file online return if the transaction of any company is more then 1 crore. And it is very easy to check the transaction figures and cross verification as all the data was online.
These newly formed companies were continue to file online returns of more then 100 crores each per month and the officials even didn’t felt the need to verify their trade and cross transactions of their returns.
Without the support of the department such huge returns were impossible to file and these companies continued their trading for more then a year but the department never visited their premises even after such huge turnovers of more then thousand crore each.
Even after the unearth of this scam the main accused were spared by the department and even after the orders of local deputy commissioner of Ludhiana in the meeting of PIFA their names were not disclosed by the department.
The department was forced to unearth this scam when the assesses start filing for refunds and the department was not in a position to repay them their refund.
Then to delay the refunds the department used this Bogus bill scam as good weapon and stopped all the refund with and excuse of involvement with the bogus bill transactions.
The number of primary Bogus Bill scammers were not more then 10 but more then 5000 assesses are suffering just due to the corruption and negligence of the department.
To recover the tax the department is making the innocent assesses their targets whereas the main accuseds are just spared by registering a case against them.
For this scam the weapon in one clause of the VAT act was used according to which “the BUYER is responsible if the SELLER don’t deposit his share of VAT to the department.
There is still a chance that many black sheep’s are still doing this scam with the support of the department and the innocent dealers could again be their target just due to the negligence of the department.
It is very difficult for a dealer to verify the status of the seller and when all these sellers were filing the returns to the department then the buyers were assured that there VAT was going to the department.
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