Kathmandu, 14 January : Arun Intercontinental, a subsidiary of Chaudahary Group has evaded millions of tax amount faking Value Added Tax (VAT) bills. According to a highly placed source at the Revenue Tribunal, Arun Chaudhary’s firm Arun Intercontinental, owes over five million to the nation as tax and equal amount is slapped upon it as penalty. It may be recalled that Binod Chaudhary’s youngest brother Arun was alleged of money laundering activities and conducting off-shore businesses. Binod, earlier a member of erstwhile Communist Party of Nepal (UML) is currently a Nepali Congress parliamentarian. It is learned that Arun and his son Karan carried out foul businesses using his influence.
On Monday,the Supreme Court upheld the decision of the Revenue Tribunal that 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