ADVERTISEMENT
ABB India Evaded Tax, Suppressed Facts, Says GST Adjudicating Authority
ABB India misclassified turbochargers supplied to Indian Railways and paid GST at 5% against the applicable 28% and reduced 18%.
01 Oct 2019, 08:52 AM IST
The indirect tax adjudicating authority said ABB India Ltd. wilfully evaded tax and suppressed facts, upholding the department’s investigating unit’s contention that the engineering giant allegedly dodged tax by wrongly classifying industrial products.The authority—the first level to resolve tax disputes—ordered the Indian arm of the Swiss-Swedish company to pay a penalty of Rs 5.58 crore, equal to the amount it allegedly evaded, acc...
I’m already a Subscriber Sign In
To continue reading this story
Subscribe to unlock & enjoy all Members-only benefits
Choose a plan
Renews automatically. Cancel anytime.
As a Subscriber you get
Access to
Stories
Curated
Newsletters
20,000+
Research Reports
Priority Pass
to Special Events
Ad-Lite
Experience
Members-Only
Rewards
NDTV Profit
Exclusive Stories
Full Access to
NDTV Profit App
Access to
Stories
20,000+
Research Reports
Ad-Lite
Experience
NDTV Profit
Exclusive Stories
Curated
Newsletters
Priority Pass
to Special Events
Members-Only
Rewards
Full Access to
NDTV Profit App
Still Not convinced ? Know More
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT