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Himachal Pradesh Excise Department & Tax Department Raided Adani Wilmar Stores

  • Posted on February 10, 2023
  • News
  • By Akta Yadav
Adani Wilmar Stores:- On 8th February 2023, the Himachal Pradesh Tax Department raided the Adani Wilmar stores in Shimla, Himachal Pradesh and looked for crucial documents till late night. The Himachal Pradesh Tax Department’s raid at the Adani Wilmar stores in the state has been conducted on the ground that Adani Wilmar had a business of 135 crore Rupees in the preceding year but the whole amount of GST input had been allegedly adjusted by the Company through tax credit whole no payment in cash was made. Himachal Pradesh Tax Department Raids Adani Wilmar Stores: Know the Result On 9th February 2023, Adani Wilmar stated that no illegal activities or irregularities in the normal course of business have been evidently found during the raid at the Adani Wilmar stores. Adani Wilmar stated, “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…We are committed to conducting business in a responsible and transparent manner, and all our operations are in full compliance with the relevant laws and regulations.”   Adani Wilmar Stores Adani Wilmar Stores However, contrary to Adani Wilmar’s statements, GD Thakur, the joint commissioner for the department of excise and taxation for Himachal Pradesh South Zone, stated today, “We found many discrepancies while scrutinizing the records. The raids are still continuing.” Amidst such a clash of opinions, it will be worthwhile to wait for an official ground report of the raid. Himachal Pradesh Tax Department Raids Adani Wilmar Stores or Conducts a Routine Investigation? The Adani Wilmar stores have released a collective statement in which it was attempted to clarify that the search conducted was only a routine operation and not a raid. Clearly, this is a move to protect the goodwill of the Company. However, critics suspect that the search was a raid resulting from the Hindenburg Research controversy. There is no definite conclusion as of now as to the nature of the search as well. Adani Wilmar Stores Adani Wilmar Stores For more updates keep visiting our website where we provide unbiased, true and top stories of the world.
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Akta Yadav

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