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States » SouthPosted at: Jun 5 2020 7:09PM


Commercial Tax officials unearth Rs 11 Cr worth undeclared Arecanut stored in two godowns evading tax

Bangaluru, Jun 5 (UNI) The officers of the Karnataka Commercial Taxes Department raided undeclared godowns and business premises of Areca Merchants in Shivamogga and Sagara recently and levied tax and penalty of Rs 1.10 Crore under GST.
Baesd on the credible information that during Covid-19 lock-down large quantities of arecanut is being purchased and stored by some traders without valid documents. The officers kept a close watch on the godowns and movement of goods. A team of officers headed by Nitesh K Patil, Additional Commissioner, Enforcement, South Zone, raided 9 places in Shivamogga and 4 places in Sagara in the early hours of Tuesday.
During the course of inspection the officers noticed two undeclared godowns and levied penalty on the goods stored therein. The officers noticed transactions outside the regular books of accounts and total suppressed turnover quantified so far is at Rs 11.02 crore and penalty and tax of Rs 1.10 crore is levied Rs 86 lakhs is already recovered and further investigation is in progress. Since the transactions are outside the books of accounts. the information will be shared with APMC authorities for appropriate action, according to a release here on Friday.
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Tags: #Commercial Tax officials unearth Rs 11 Cr worth undeclared Arecanut stored in two godowns evading tax
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