Business Standard
Nine companies in dock for Rs 3,164 cr sales tax evasion
Edited by : AL CIRCLE
1 min read
Nine steel and aluminium companies operating in the state have been found to have defaulted on sales tax evasion worth Rs 3,164 crore, according to a report by Special Investigation Team of the State Vigilance.
The defaulters' list includes Vedanta Aluminium Ltd (VAL), Bhushan Power & Steel Ltd, JSL Ltd (formerly Jindal Stainless Ltd), Visa Steel Ltd and Rathi Steel Ltd among others. The evasion mostly pertained to showing some of the taxable components of operation as non-taxable by these companies, said an official source.
Taking note of the serious evasion by these companies, the state finance department has decided to serve notices on these firms. A departmental review meeting would be held on Tuesday in this connection.
“The state finance department will issue showcause notices to the errant companies that have defaulted on sales tax payment. If these companies fail to offer adequate explanation, action will be taken,” said state minister for finance and public enterprises Prafulla Chandra Ghadai.
It may be noted that the Special Investigation Team of the State Vigilance was constituted as per the direction of the Orissa High Court.
The defaulters' list includes Vedanta Aluminium Ltd (VAL), Bhushan Power & Steel Ltd, JSL Ltd (formerly Jindal Stainless Ltd), Visa Steel Ltd and Rathi Steel Ltd among others. The evasion mostly pertained to showing some of the taxable components of operation as non-taxable by these companies, said an official source.
Taking note of the serious evasion by these companies, the state finance department has decided to serve notices on these firms. A departmental review meeting would be held on Tuesday in this connection.
“The state finance department will issue showcause notices to the errant companies that have defaulted on sales tax payment. If these companies fail to offer adequate explanation, action will be taken,” said state minister for finance and public enterprises Prafulla Chandra Ghadai.
It may be noted that the Special Investigation Team of the State Vigilance was constituted as per the direction of the Orissa High Court.
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