LED TVs worth Rs 50 crore seized from Delhi firm
The Delhi government’s Trade and Taxes department has unearthed an unregistered firm, which allegedly imported LED TV sets illegally and sold it across the city. LED TVs worth Rs 50 crore have been seized from the firm’s godowns. Officials have estimated a tax evasion to the tune of around Rs 10 crore.
“The firm evaded tax around Rs 10 crore. The department has initiated action against the firm under various provisions of the DVAT Act 2004. An FIR has also been lodged against it,” said Sajjan Singh Yadav, commissioner of Trade and Taxes department.
“The firm was not even registered with the Trade and Taxes department and was carrying out illegal business,” he added. The officials have seized LED TV sets worth Rs 50 crore from the godowns of the firm, M/S GS Overseas, in Karolbagh.
Giving details about the raid, Yadav said the department had received information that a firm had been selling imported, costly LED TVs in Karolbag. The enforcement teams conducted a recee and studied the firm’s modus operandi. Soon, the department collected information about the firm’s warehouses and godowns.
“Documents regarding unvouched transactions of the dealer were also seized from its premises,” he added.
According to the Delhi Value Added Tax (DVAT) Act, 2004, any person or entity having an annual turnover of more than Rs 20 lakh has to mandatory register itself with the Department of Trade and Taxes, get a TIN number, file quarterly returns and deposit the tax monthly, but the firm violated all norms, Yadav said.
He added that the drive against tax evaders shall continue and no such person or entity will be spared. “However, the department is ensuring that genuine traders are not harassed and are rendered full support by the department in carrying out their business fearlessly,” he added.