Major tax evasion network unearthed in Bengaluru: Illegal transactions worth 100 crore exposed
Bengaluru: The Commercial Taxes Department has uncovered a large-scale tax evasion network in the state capital following a covert operation that lasted 15 days. Officials have detected concealed trade transactions worth approximately 100 crore rupees involving multiple business establishments.
Inspections were conducted in central Bengaluru, including areas like Chickpet, Avenue Road, BVK Iyengar Road, JC Road and SP Road. Through document scrutiny and data analysis, authorities found extensive instances of tax concealment. Further investigations are underway, officials confirmed.
According to the department, several traders purchased goods from New Delhi and other regions without proper billing and later sold them locally without issuing tax invoices. Items identified include electronics, automobile spare parts, gift products and dry fruits. It was also found that actual quantities purchased were significantly higher than what was declared in tax records.
Officials stated that traders dealing in iron, steel, hardware and cement supplied products directly to end customers, while issuing fake bills to contractors in order to evade tax liabilities.
During the operation, many businesses were also found to be operating without GST registration despite having taxable turnover exceeding 40 lakh rupees. Such traders have been warned and instructed to complete mandatory registration immediately.
The department has intensified monitoring of freight movement in and out of city railway stations. At Yeshwantpur Railway Station, officials seized nearly 1,000 bags of gutka, pan masala and dry fruits transported without valid documentation. Additionally, over 75 goods vehicles carrying iron scrap without proper tax invoices were taken into custody.
Authorities have reiterated that strict action will continue against those involved in tax evasion and illegal commercial activities in Bengaluru.
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Russian military hardware, spare parts for Indian military to be manufactured in India
New Delhi (PTI): Russia agreed to encourage joint manufacturing in India of military hardware and spare parts for maintenance of Russian-origin arms and defence equipment.
Ways to bolster overall bilateral defence cooperation figured prominently during summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin on Friday.
It has been a long-standing grievance of armed forces that the supply of critical spares and equipment from Russia takes a long time, affecting the maintenance of military systems procured from that country.
"Both sides agreed to encourage joint manufacturing in India of spare parts, components, aggregates and other products for maintenance of Russian origin arms and defence equipment under Make-in-India programme through transfer of technology," a joint statement said.
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It said both sides also agreed to set up joint ventures for meeting the needs of the Indian armed forces as well as subsequent export to mutually friendly third countries.
The joint statement said the India-Russia defence partnership is being reoriented to take up joint co-development and co-production of advanced defence technology and systems.
In their meeting on Thursday, Defence Minister Rajnath Singh and his Russian counterpart Andrey Belousov resolved to expand bilateral defence cooperation.
In the meeting, the Indian side showed keen interest in procurement of additional batches of S-400 missile systems from Moscow to bolster its combat prowess.
In October 2018, India signed a USD 5 billion deal with Russia to buy five units of the S-400 air defence missile systems, notwithstanding a warning by the US that going ahead with the contract may invite US sanctions under the provisions of Countering America's Adversaries Through Sanctions Act (CAATSA).
Three squadrons have already been delivered.
The S-400 systems played a crucial role during Operation Sindoor. India may also look at procuring the S-500 missile systems from Russia.
In the Modi-Putin talks, the two sides also agreed to continue jointly developing systems of bilateral trade settlements through the use of national currencies.
Additionally, the two sides agreed to continue their consultations on enabling the interoperability of the national payment systems, financial messaging systems, as well as central bank digital currency platforms.
Modi and Putin appreciated the ongoing intensification of the joint work on a free trade agreement on goods between India and the Eurasian Economic Union, covering sectors of mutual interest, the joint statement said.
They also directed both sides to intensify efforts in negotiations on a mutually beneficial agreement on the promotion and protection of investment, it said.
India and Russia also welcomed steps to ensure long-term supply of fertilisers to India and discussed the potential establishment of joint ventures in this area.
