At least three Surat-based real estate firms, which recently declared blackmoney under the Income Disclosure Scheme (IDS), have been raided by the central excise officials for alleged evasion of service tax.
Office premises of a realtor in Begampura area of Surat was searched Tuesday evening and the raid continued till midnight. While the excise officials seized several documents related to the builder’s upcoming projects, they slapped a penalty of Rs 13 lakh on the firm for evasion of service tax, sources said.
The owner of the firm said, “The reason for our active participation in the IDS was the belief that we will not face such raids. But now, service tax officials have started harassing us. We have made a great mistake by taking part in the IDS.”
Two other real estate firms raided Wednesday morning were in Parle Point and Ghod Dod Road areas of Surat. Even as the raids continued till late in the evening, further details were awaited. Names of the three firms have been withheld because of the confidentiality clause under the Income Tax Disclosure Scheme.
At Rs 2,500 crore in disclosures of unaccounted income, Surat had topped the list of cities in Gujarat where the statewide corpus was Rs 4,200 crore.
For all the latest India News, download Indian Express App now