DELHI: The trade and taxes department of Delhi Government has seized LED TVs worth Rs 50 crore from a private firm in Karol Bagh for alleged illegal purchase and sale of the electronic goods and for evading tax to the tune of Rs 10 crore.
Trade and Taxes Commissioner SS Yadav said that the proprietors of the firm (M/S G.S. Overseas) have admitted to the illegality of their transactions and FIRs have been registered in this connection under the Delhi Value Added Tax Act, 2004 and relevant sections of the IPC.
Based on the tip-off, a survey was clandestinely done by enforcement teams in the area where the establishment is located and information was gathered about its warehouses and godowns. During the raid, various documents regarding unvouched transactions of the dealer were also seized, he added.
Officials said the information about the seizure has also been shared with other enforcement agencies.
Yadav said that the firm was not even registered with the Department of Trade and Taxes and is not paying any tax although its turnover is above the threshold limit and the estimated tax evasion by the firm is Rs 10 crore.
