Tax evasion: accounts of 77 firms frozen | Goa information

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  Tax evasion: accounts of 77 companies frozen |  Goa news

Panaji: The business tax department has taken measures against 77 companies to recover tax payments amounting to Rs.120 billion.
The department has taken action against companies that have suffered large tax losses and have avoided paying taxes by the government.
“77 such debtor firms have been identified, of which around 120 rupees are recoverable in taxes, interest and penalties,” said a senior executive.
These reclaims are pending under various laws such as VAT, CST, luxury tax, entertainment tax, immigration tax, etc., which are managed by the department.
The official said that the first step was to freeze various bank accounts of these companies. The banks have been instructed to pay the amount available in these accounts in accordance with the liability to the Treasury in accordance with the procedure prescribed by law.
“These defaulting companies include a number of sole proprietorships, limited partnerships, partnerships, limited liability companies, etc. Further action is being taken to recover the money in a number of ways,” the official said