more-inAn FIR has been registered against two Gurugram-based private firms for their alleged involvement in the huge bogus transactions under the VAT regime. The two firms have been identified as M/s Vipin Enterprises and M/s Uma Traders. The spokesman said that M/s Vipin Enterprises was found making fraudulent claims of ITC on intra-State purchases in a web of operations with many other firms. M/s Uma Traders was registered under VAT Act with liability to pay tax with effect from September 25, 2014, the spokesperson added. Also, the dealer neither paid any tax in all three quarters nor did he pay tax on value enhancement that is VAT, he said.

Source: The Hindu March 19, 2018 19:52 UTC