India News | Excise Department Detects 4 Fictitious Firms in Himachal
Get latest articles and stories on India at LatestLY. The economic intelligence unit of the State Taxes and Excise Department of Himachal Pradesh has detected four fictitious firms engaged in suspicious transactions and has taken up the matter with the central authorities, officials said on Monday.
Shimla, Apr 3 (PTI) The economic intelligence unit of the State Taxes and Excise Department of Himachal Pradesh has detected four fictitious firms engaged in suspicious transactions and has taken up the matter with the central authorities, officials said on Monday.
The companies are run by three individuals belonging to Gujarat, according to their Aadhaar card details, they said.
They had applied for registration of 184 firms across the country and 31 of these were approved. In Himachal Pradesh, they sought registration of 10 firms and were successful in getting four approved by the Central Goods and Services Tax authorities, they said.
Excise Commissioner Yunus said that after a detailed analysis of data of these firms, it was observed that these firms were apparently making suspicious transactions.
Enquiries were conducted with regard to addresses disclosed by these firms for conducting business in the state and none of these firms was found to exist.
These individuals have disclosed a business of Rs 167 crore and have passed on fake input tax credit of Rs 27 crore across India. In Himachal, they disclosed a turnover of Rs 56 crore and have passed on fake input tax credit of Rs 9.43 crore, he said.
He said the department has taken up the matter with the central authorities as the firms are under central jurisdiction and their networks are spread across the country.
The central authorities have been requested to take immediate action against these fake entities, he added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)