TAX EVADERS (LEADING CREDAI BUILDERS) IN THE NET


VAT TAX 

THE COMMERCIAL TAXES DEPARTMENT HAS WOKEN UP AND RAIDED SEVERAL BUILDERS LIKE MANTRI, DS MAX, EMBASSY AND NITESH AND COLLECTED OVER 140 CRORES IN THE ARREARS OF VAT COLLECTED BY THESE BUILDERS FROM THE BUYERS OF THE PROPERTY.

IT IS TO BE NOTED THAT THESE BUILDERS COLLECT THE VAT OR COMMERCIAL TAX FROM THE BUYERS, IN THE EMI AND NEVER PAID IT TO THE GOVERNMENT.

FURTHERMORE, THERE ARE MANY SMALL TIME DEVELOPERS WHO ARE ABSCONDING OR ADDRESS LESS NOW OR WILFUL AND DELIBERATE TAX EVADERS HAVE NOT BEEN BROUGHT INTO THE NET.

IF THE DEPARTMENT ACTS DILIGENTLY, IT CAN COLLECT OVER RS1000/- CRORE OF THE TAX PAID BY THE BUYERS OF THE PROPERTIES.

MAJORITY OF THESE LEADING TAX EVADERS HAVE NOT ISSUED VAT BILL-TAX BILL- TO THE BUYERS OF THE PROPERTY.

SERVICE TAX

ANOTHER GREY AREA WHERE SERVICE TAX PAID BY THE BUYERS OF THE PROPERTY HAS BEEN MANIPULATED AND TAXES COLLECTED HAD NOT BEEN DEPOSITED WITH THE DEPARTMENT.

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