Patiala, : Excise and Taxation Department, Punjab has detected bogus stock transfers of cars worth more than Rs.32 crores to Jammu. Confirming this, Mr.Anurag Verma, Excise and Taxation Commissioner, Punjab said that M/s.Macro Venture Pvt. Ltd., Zirakpur, a dealer of Tata cars had shown stock transfers of cars worth more than Rs.20 crores to M/s.Vinayak Enterprises, Jammu. Similarly, he had shown stock transfers of more than Rs.12 crores to M/s.Pioneer Sales Network, Jammu. Mr.Verma said that in case of stock transfer to another State, the tax liability in the State of Punjab is reduced to zero. Suspicion arose because these transactions were not reflected at Information Collection Centre (ICC), Madhopur. On further enquiry, it was found that TATA Motors (Cars Division) does not have any authorised dealer by the names of M/s.Vinayak Enterprises and M/s.Pioneer Sales Network in Jammu. Therefore, it was suspected that cars had been sold in Punjab and tax had been collected from customers on behalf of Punjab Government, but with a view to evade payment of tax to Government, bogus branch transfers and inter-state sales had been shown to dealers in Jammu by M/s.Macro Venture Pvt. Ltd. Zirakpur.
Mr.Verma said that in light of this, an officer was sent to Jammu for further enquiry and verification. Enquiries were also made from the Commercial Taxation Department, Jammu & Kashmir. In response, the Commercial Taxes Officer, Jammu gave in writing that M/s.Vinayak Enterprises, Jammu is a dealer of biscuits, confectionery, karyana items, stationery goods, hair oil, ayurvedic medicines etc. Similarly, M/s.Pioneer Network Sales, Jammu is a dealer of ayurvedic medicines, life saving drugs and stationery goods. None of these two Jammu dealers had not any stock transfer or inter-state from M/s.Macro Venture Pvt. Ltd. Zirakpur nor had these firms had signed any consignment agreement between them with M/s.Macro Ventue Pvt. Ltd. In light of this, it has emerged that M/s.Macro Venture collected about Rs.4 crores of VAT from the customers, but did not deposit it in the Treasury. In order to pocket this tax, he created paper transactions of stock transfers of cars to Jammu. Mr.Verma said that the provisional assessment proceedings have been initiated and an amount of Rs.60 lacs has been recovered till now.
Mr.Verma added that M/s.Macro Venture Pvt. Ltd. Zirakpur had also shown stock transfers of Rs.7 crores to Chandigarh. Verification in this regard is going on.