According to the Commissioner of Commercial Taxes, these establishments were involved in the trading of various other goods.
Published Oct 06, 2023 | 6:05 PM ⚊ Updated Oct 06, 2023 | 6:05 PM
Tax. Representational Image. (Creative Commons)
The Commercial Tax Department raided over 100 business establishments and godowns at Chikpet in Bengaluru and the surrounding areas following information received about them accumulating unaccounted stocks in undisclosed godowns and selling them without issuing tax invoices.
According to Commercial Taxes (Karnataka) Commissioner C Shikha, these establishments were involved in the trading of textiles, readymade garments, electrical items, household articles, and various other goods.
She called it a significant crackdown on tax evasion and said the raids which were conducted on Thursday, 5 October, were meticulously planned. A few of the godowns were undeclared.
The department was scrutinising the financial records of the businesses and other evidence to ascertain the quantum of tax suppression, Shikha said in a statement.
“This investigation has been initiated based on the credible information that some of the businesses located in and around this area are indulging in accumulating unaccounted stocks in undisclosed godowns and selling them without issuing tax invoices, which results in causing loss to the government exchequer,” the statement said.
Shikha said that in accordance with GST regulations, penalties were imposed on those businesses for non-compliance with display requirements of GST-related information, such as the absence of signboards and GST registration certificates on their business premises and additional business premises.
She said the department remained committed to upholding the principles of transparency, fairness, and compliance in taxation.
The raids serve as a reminder to all businesses operating within the State’s jurisdiction to adhere to all GST regulations such as fulfilling their tax obligations diligently, maintaining transparent records, and displaying their GST-related information prominently on their business premises and additional business premises to avoid penalties and legal consequences, the commissioner of commercial taxes added.
(Disclaimer: The headline, subheads, and intro of this report along with the photos may have been reworked by South First. The rest of the content is from a syndicated feed, and has been edited for style.)
