At least three Surat-based real estate firms, which recently declared black money under the Income Disclosure Scheme (IDS), have been raided by the central excise officials for alleged evasion of service tax.
A realtor’s office in Surat was searched Tuesday evening. Excise officials slapped a penalty of Rs 13 lakh on the firm for evasion of service tax, sources said.
Owner of the firm said, “The reason for our active participation in the IDS was the belief that we will not face such raids. We have made a great mistake by taking part in the IDS.”
Two other real estate firms raided were in Parle Point and Ghod Dod Road areas of Surat. Names of the firms have been withheld because of the confidentiality clause under the IDS.