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GST enforcement team raids mining company

Post News Network
Updated: August 29th, 2019, 10:19 IST
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GST enforcement team raids mining company
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Keonjhar: A GST enforcement team raided the office of Iron Mining and Trading, a mineral transport agency, at Barbil in Keonjhar, for evading GST Wednesday.

The enforcement has reportedly collected Rs 9, 82, 11, 804. The agency had deposited the GST in two installments. The agency had deposited royalty (for mining trade), but had failed to pay GST towards royalty paid to National Mineral Exploration Trust and the District Mineral Foundation fund.

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The GST authorities had investigated it and came to know of the GST evasion by the agency in 2018-19 and 209-20. A team led by officer of Commercial tax and GST (Barbil) Suryanarayan Sethi raided the office.

However, officials are assessing exact amount of GST to be paid.  Sethi said the company has unknowingly did not pay the GST and it has not evaded it.

However, various outfits alleged that several mining companies have been evading GST in such manner in Keonjhar district.

Notably, a company is supposed to pay two per cent GST on the amount of the royalty it deposits at the NMET and 30 per cent GST on the amount of royalty deposited at DMF.

 

PNN

 

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