Excelsior Correspondent
JAMMU, Dec 22: State Taxes Department here today sealed Silk Expo at Jehlum Resort during an inspection after discovering huge tax evasion.
The inspecting team was shown the total value of material for sale to be Rs.18 lakhs while after properly checking details it came out to be around Rs.1.62 crore.
The Silk Expo is going on from Dec 15 and per day a sale of around Rs.4 lakh has been recorded.
A handout of the department stated that the Expo has been sealed to ensure no further tax evasion due to further sales as no proper invoices have been issued till date and there is every apprehension of further tax evasion in case it is continued to run.
A Spokesman of the department added that such expos hit the local traders, who are doing genuine and honest business, very hard as their sales in the market get harshly affected.
The Spokesman also said that the Expo has got registration as Casual Taxpayer under GST law and has deposited only Rs. 5,000 SGST and similar amount of CGST and as per law the casual taxpayer has to deposit tax leviable in advance in his electronic cash ledger to be calculated on the basis of the stock.
The inspection was conducted on the instructions of Commissioner, State Taxes Jammu, P.K Bhat.
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