The Hindu : Business : Tax evasion cases against 3 major cos.

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Saturday, Oct 28, 2006
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Tax evasion cases against 3 major cos.

Special Correspondent

NEW DELHI: A number of high profile companies have come under the lens of the Central Board of Excise and Customs (CBEC) for evasion of indirect taxes.

According to a CBEC spokesperson, the tax authorities have booked a Sahara group company for not paying Rs. 37 crore as service tax, as per preliminary investigations.

The spokesperson told newsmen here on Friday that the Lucknow-based Sahara India was said to have received more than Rs. 400 crore from Sahara India Financial Corporation, a group company, by way of incentives for collecting public deposits during May 2005, to August this year.

Skoda, LG Electronics

Two other companies, Skoda India and LG Electronics India, were also found to have evaded duty to the tune of Rs. 25 crore and Rs. 5.32 crore, respectively. While Skoda had voluntarily paid Rs. 8 crore, LG had deposited the entire amount due, the spokesperson said.

The three cases, she said, were part of a total of 882 cases involving more than Rs. 1,400 crore in evasion of indirect taxes, which were booked by the authorities during the first half of the current fiscal.

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