In a major offensive against tax evaders, Punjab Finance, Excise and Taxation Minister Advocate Harpal Singh Cheema on Friday announced that the state's taxation department has launched a massive crackdown within the iron and steel sector, detaining over 200 vehicles and seizing goods with an approximate market value of Rs 7 crore.
Reaffirming the state’s zero-tolerance policy toward tax evasion, the Minister disclosed that this special enforcement drive specifically targets bogus billing and the movement of goods without proper documentation, with expected penalties set to exceed Rs 3.5 crore for the violators.
Sharing details of the operation, Finance Minister Harpal Singh Cheema said, "The State Investigation & Preventive Unit (SIPU) of the taxation department successfully executed this strategic, large-scale enforcement drive today. The operation was heavily concentrated in the state's prominent iron and steel belt, encompassing Mandi Gobindgarh, Khanna, and adjoining areas, with the primary objective to decisively curb tax evasion occurring through illegal practices."
The Minister revealed that more than 200 vehicles transporting iron scrap and finished steel goods were detained for rigorous verification during the course of this special action. Finance Minister Cheema further added, "The total quantity of the intercepted goods is estimated to be over 2,400 metric tonnes.
Our preliminary scrutiny has clearly indicated that several of these consignments were moving either completely without proper invoices and e-way bills, or were supported by highly suspected documentation." The Finance Minister Harpal Singh Cheema reiterated that the department is conducting a thorough investigation into the network of bogus billing, and strict legal action will be taken against anyone found disrupting the state's revenue growth.