Business Daily from THE HINDU group of publications
Wednesday, Oct 01, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Oct 01, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Industry & Economy
-
Economic Offences Mechanism to check tax evasion New Delhi, Sept. 30 The Finance Ministry on Tuesday announced that it has put in place a mechanism to facilitate collection of information from third party sources or from manufacturers themselves, in order to identify the manufacturers with a propensity to evade taxes. Such a mechanism is expected to create an atmosphere of voluntary compliance. Under this mechanism, an annual installed capacity statement (ER-7) has been prescribed which is to be filed by all assesses. This has to be filed by every assessee for a financial year by April 30 of the following year. The ER-7 for 2007-08 is to be filed by October 31. Moreover, the declaration required to be filed by the units availing of exemption under the small scale exemption scheme has also been modified to include details relating to PAN number, VAT registration number and information regarding electricity connection. An official release also said the central excise field formations have been advised to identify evasion-prone commodities and seek data relating to electricity consumption of such units from the distribution companies and verify the production details declared in the monthly excise returns. - Our Bureau More Stories on : Economic Offences
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
