Bogus Sales Purchase

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....ogus Sales Purchase<br> Query (Issue) Started By: - Kalpessh Daftary Dated:- 6-3-2015 Income Tax<br>Income Tax<br>Dear Sir, As my company trade in Duty free transferable licenses in Maharashtra where....

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.... 4&#37; is VAT , above Duty free transferable licenses * We explain how this duty free transferable licenses are traded as it's generated by the Exporter of the goods and if they can't utilized aga....

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....inst their import they sold to the importer at certain discounted price through broker or trader. * Duty free transferable licenses issue by Jt. Director General of Foreign Trade which comes under M....

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....inistry of Commerce and all Duty free transferable licenses had unique identification no i.e licences no. that identification of goods . * Duty free transferable licenses verified and utilized by Cu....

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....stom department which comes under Ministry of Finance. * Duty free transferable licenses details are available online from issue to utilize. ITO issue us a notice that our purchase are bogus and fr....

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....om one of the trader ( in our chain ) say that he made only entry bt our sales and purchase also get VAT refund for the same transition What we have to do<br> Discussion Forum - Knowledge Sharing ....