Era Group faces investigation for not clearing tax
Era Group, a Delhi based real estate firm, has been probed for service tax by the Central Revenue Department. Officials suspected that the firm is avoiding service tax of around Rs. 18 crore.
Officials said that they have registered a case against the Era Infra Engineering Ltd, Era Landmark Ltd and Era Buildsys Ltd.
According to sources, the firms were accountable for Rs. 13 crore in respect of Infra Engineering Ltd and around Rs. 5.5 crore for Era Landmark Ltd in last November.
As per the recorded statements, officials of the company have accepted that a service tax of Rs. 30 lakh has been evaded by Era Buildsy’s Ltd for the period of up to September 2012. But the group was not available for any comments for the given situation.
Without any further notice the company handed over Rs. 20 lakh in favour of Era Infra Engineering Ltd by the Era Group and also deposited post dated cheques of about Rs. 15 crore and Rs. 5 crore in favour of Era Infra Engineering Ltd and Era Landmark Ltd, respectively for their outstanding service tax liability.
Officials have reported that the companies were avoiding the service tax by not filing ST-3 form which is mandatory.
Era Group is a real estate company who has gained the market by constructing of roads, bridges and power plants. Their main head office is in Okhla, Delhi. While, Era Landmark Ltd carries the development of real estate projects, Era Buildsys Ltd is engaged in supplying and erection of prefabricated structures.
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