New Delhi [India], February 11 (ANI): The probe by Himachal Pradesh tax authorities against Adani Wilmar will have implications on the central GST body as well, in case any tax evasion is found, and no separate investigation is needed by central tax authorities, sources told ANI.
Sources also said that the central government is yet to receive any input or report from Himachal Pradesh tax authorities on the Adani Wilmar’s depot inspection.
State Goods and Services Tax (GST) officials on February 8 inspected Adani group company’s warehouse at Parwanoo in Himachal Pradesh and took stock of the inventories at the godown, besides checking relevant documents.
Gautam Adani’s company on February 9 released a statement clarifying that the Himachal Pradesh GST Department has not found any irregularities in the operations and dealings of the company.
“The officials did not find any irregularities in the operations and dealings conducted by the company. We would like to clarify that the concerns specific to GST payments in cash, citing GST law under Rule 86B, the company is not required to pay the tax liability,” an Adani Wilmar spokesperson said in a statement on Thursday.
“We would like to emphasise that this was a routine inspection carried out by the relevant authorities and there was no raid as previously stated or reported in the media,” the spokesperson further said, adding the company was committed to conducting business in a responsible and transparent manner, and all its operations are in full compliance with relevant laws and regulations.
Currently, operations at the depot, the spokesperson added, were functioning normally after the GST officials’ inspection.
“We have inspected the premises (under SGST Act) to check the stocks, and whether trading activities are taking place. We have checked stocks, and taken some relevant documents, including the rent agreement. Rest will be known after final investigation,” GD Thakur, Joint Commissioner Enforcement South Zone Parwanoo had said.
Thakur also said the agency studied the company’s business models, including its cash liability – which was found to be nil.
“We studied Adani Wilmar’s business model and found that their premises, transportation etc working on rent-model. We’re examining all rent agreements. Cash liability found nil, whereas it should be 10-15 per cent in this business,” Thakur had said.
Adani Wilmar, a joint venture between Adani Group and Singapore-based Wilmaris is a fast-moving consumer goods (FMCG) food company offering most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. (ANI)
