The states excise and taxation department has detected tax evasion of around Rs 2.77 crore,the biggest such violation ever,allegedly involving a leading agricultural equipment distribution firm based in Mandi district.
A team led by assistant excise and taxation commissioner,Mandi,Rakesh Bhartiya raided the premises of Harvell Agua India Ltd located at Nagchala,Mandi,and seized official records,a few days ago.
After perusal,inspection and verification of the office records,it was found that the company had adopted fraudulent practices of importing taxable goods into the state from Gurgaon (Haryana) and was thus evading payment of taxes under provisions of the HP VAT Act,2005, Bhartiya said.
He added that the firm had been selling PVC pipes and other equipments since April 2009 and as of March 31,2012,the company had sold goods worth Rs 18. 47 crore and as such it owed the state Rs 2.77 crore in taxes.