Kathmandu, 14 January : The Supreme Court has upheld the decision of the Revenue Tribunal that some business entities faked the Value Added Tax (VAT) bills and cheated the nation with millions of rupees a decade ago. Arun Intercontinental including Bhat-Bhateni Super Market, AIT, Shankar Oxygen Pvt Ltd and Mahesh Baniya , had faked VAT bills to evade tax.
A division bench of Chief Justice Cholendra SJB Rana and Justice Prakash Kumar Dhungana upheld the verdict of the Revenue Tribunal two years ago that the firms faked the VAT bills and are subject to pay penalty to the tune of more than one billion rupees. Now Bhat-Bhateni Super Market has to pay to the government around one billion rupees that includes tax and penalty amount.
People’s News Monitoring Service