The FCI is supposed to pay agricultural market fee and rural development cess for the procured commodities.
Police on Monday seized '30 lakh in banned notes from a man named Kanakaiah during a routine vehicle check at Jangaon on Monday. Kanakaiah was a trader in Hanamkonda and was taking the cash to Hyderabad in his car. (Photo: DC)
HYDERABAD: Telangana State Vigilance and Enforcement sle-uths have found tax evasion to the tune of Rs 9.7 crore by the Food Corporation of India (FCI).
The FCI is supposed to pay agricultural market fee and rural development cess for the procured commodities and VAT for those supplied to the state department of agricultural marketing.
Hyderabad City-2 Vigilance and Enforcement sleuths conducted raids regarding evasion of agricultural market fee by the FCI in Mahabubnagar from 2013 onwards and submitted a report to the government.
The fee has to be paid as per the AP (Agricultural Produce and Livestock) Markets Act 1996, by the purchaser for the notified agricultural produce, livestock or products of livestock.
( Source : Deccan Chronicle. )
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