New Delhi: In a major operation, the
enforcement teams of the Department of Trade and Taxes, Government of NCT of
Delhi seized a huge stock of expensive LED TV sets being sold illegally in the
capital. The entire stock was imported by the firm. The cost of the stock seized
is estimated to be about Rs 50 crores. The stock was seized from a firm who was
selling these TV sets illegally in Karol Bag. The information about the seizure
has also been shared with other enforcement agencies.
Giving details about the raid conducted
by enforcement wing of Trade and Taxes, the Commissioner, Trade and Taxes Shri
SS Yadav informed that the Department had received information that a firm is
selling imported, high value LED TVs in Karolbag area. Survey of the area was
conducted clandestinely by the enforcement teams. The modus operandi of the
firm was studied and information about its warehouses and godowns was
collected. The firm M/S G.S. Overseas, which was found having huge stock of
these TV sets. The proprietors of the firms have admitted illegal purchase and
sale of TVs.
Yadav informed that the firm was not
even registered with the Department of Trade and Taxes and is not paying any tax although its
turnover is above the threshold limit. As per Delhi Value Added Tax Act, 2004,
any person or entity having annual turnover of more than Rs 20 lakh has to
mandatorily register with the Department of Trade and Taxes, get a TIN number,
file quarterly returns and deposit the tax monthly. Shri
Yadav further informed that estimated tax evasion by the firm is Rs 10 crores.
The department has initiated action
against the firm under various penal provisions of the DVAT Act 2004. FIR is
also being lodged against the firm in the concerned police station under
various provisions of the DVAT Act 2004 and Indian Penal Code for prosecuting the
firm in the court of law.
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