VoV Web Desk

TAX EVASION

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The State Taxes Department Kashmir conducted massive raids against business entities involved in fraudulent Input Tax Credit (ITC) practices across Kashmir. These raids aimed to curb tax evasion and safeguard public revenue, focusing on sectors prone to tax evasion. The department’s action is based on credible intelligence inputs regarding widespread misuse of ITC provisions.

The raids were carried out by specialized teams across multiple locations in Kashmir, and the department is committed to ensuring tax compliance and transparency. The State Taxes Department warns that strict action will be taken against those found violating GST laws, and businesses are urged to adhere to fair trade practices and pay applicable GST to avoid penalties.

This crackdown is part of the department’s efforts to create a robust and transparent tax regime in the J&K. The department is determined to take stern action against tax evaders and ensure that all businesses operate within the bounds of the law. By doing so, the department aims to promote a culture of tax compliance and fairness in the J&K.

The raids are a significant step towards achieving this goal, and the department is likely to continue its efforts to identify and prosecute tax evaders. Businesses are advised to review their tax practices and ensure compliance with GST laws to avoid any penalties or action.

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