 "TN registers 315 cases for Rs 894 cr tax evasion in 2014-15")
The Tamil Nadu commercial taxes department has registered 315 cases of investigation against alleged defaulters for suppressing tax amount worth Rs 894 crore in the financial year 2014-15.
The investigation agency of the department also detected tax dues and penalties worth Rs 628 crore involving over 200 cases during the year. Commercial Taxes form the major source of revenue, contributing 64 per cent to the state’s exchequer.
During 2014-15, field audit u/s 64 (4) of TNVAT Act 2006 was completed in 1243 number of high risk cases and surprise inspection u/s 65 of TNVAT Act 2006 was conducted in 1610 cases based on Investigation Files.
As a result, a total Rs 108.80 crore revenue had been collected at the instance of audit and inspection. Further, proposals were evolved based on the result of audit and inspection with a total revenue effect of Rs 5,178 crore, according to department's release.
The investigation agency of the department also detected tax dues and penalties worth Rs 628 crore involving over 200 cases during the year. Commercial Taxes form the major source of revenue, contributing 64 per cent to the state’s exchequer.
During 2014-15, field audit u/s 64 (4) of TNVAT Act 2006 was completed in 1243 number of high risk cases and surprise inspection u/s 65 of TNVAT Act 2006 was conducted in 1610 cases based on Investigation Files.
As a result, a total Rs 108.80 crore revenue had been collected at the instance of audit and inspection. Further, proposals were evolved based on the result of audit and inspection with a total revenue effect of Rs 5,178 crore, according to department's release.
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