Rs. 100M fine in excise case

16 December 2010 02:36 pm - 9 - {{hitsCtrl.values.hits}}

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The Excise Department today imposed a fine of Rs. 100 mn on a licensed liquor manufacturer in Hanwelle which had defrauded duty of Rs. 100 million. This is believed to be the largest ever excise fine in the country.

A Department official said that the manufacturer had officially shown a lesser stock of liquor to the department in order to reduce the tax amount despite a larger stock.

Accordingly, Rs. 50 million has been paid by the said manufacturer as fines. Two week period had been given to the manufacturer to pay the remaining fine.

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Comments - 9

ganeshen Thursday, 16 December 2010 04:15 PM

well !!!

Ari Thursday, 16 December 2010 04:36 PM

Hope the fine is in addition to the recovery of the defrauded revenue of Rs. 100 mn.

Faqi Thursday, 16 December 2010 06:10 PM

Its well and good to impose large fines but could they collect such a large sum of money? That is the question.

Lakmikanth Thursday, 16 December 2010 08:51 PM

Well done!

Dinesh Friday, 17 December 2010 12:54 AM

It is possible to know how long this company has defrauded..

FRANCIS BENEDICT Friday, 17 December 2010 02:03 AM

Well done this is the way forward to becoming the miracle of Asia

Ananda Friday, 17 December 2010 03:26 AM

Great duty by Excise Department.

Ramesh Friday, 17 December 2010 04:10 AM

Fine fine!!

Nihal Amarasekera Friday, 17 December 2010 05:01 AM

Fine exercise by excice.

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Rs. 100M fine in excise case

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