HYDERABAD
Trouble is brewing for the Telangana State Beverages Corporation Limited (TSBCL) as a special audit of two distilleries by the Commercial Taxes (CT) department recently has revealed Value-Added Tax (VAT) evasion on account of non-duty paid liquor (NDPL) at a staggering ₹528.75 crore.
The department undertook special audits when it had detected variations in the VAT collections on liquor in comparison to excise duty collections pointing towards a leakage in revenue. In normal course, an assessee computes tax liability on total sales in a month and files a tax return in the subsequent month. This practice is even followed by the oil marketing companies but TSBCL is being accused of given a go by to this procedure.
