Sunday, August 9, 2020
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Reward for reporting VAT evasion

By NewsGram Staff Writer

New Delhi: Delhi government will be introducing a reward scheme for those who will provide them information in order to  check and detect value added tax evasion in the city. The eligibility criteria for the reward, its quantum and release shall be decided by a reward evaluation committee headed by the commissioner, VAT, or his nominee.

Photo credit: indiahomes.co.uk
Photo credit: indiahomes.co.uk

“The informers will be suitably rewarded in case the information leads to realization of additional tax revenue. On inspection, if an additional demand of tax amounting to at least Rs 10 lakh is created and realized, the informer shall be eligible for reward up to 7.5 per cent of the additional tax demand created and realized or Rs 10 lakh,” said a press statement by the government. The identity of the informer is to be kept confidential.

The press release also said, “The scheme also includes provision of an advanced reward up to a maximum limit of Rs 25,000 to the informer upon successful search and seizures, an interim reward of an amount proportionate to the deposit of additional admitted tax as a result of assessment proceedings which shall be released after expiry of three months of such assessment order without any objection or appeal.”

 

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