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Article: Reliance Industries tops excise evasion: minister

Article from:
The Hindustan Times
Article date:
February 9, 2007
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New Delhi, Feb 9 -- Reliance Industries, GMR Power Corp, Sterlite Industries, Gillette India Ltd and Computer Graphics Ltd are some of the well- known companies listed by the finance ministry as major excise duty evaders for the last three financial years.

A statement by Minister of State for Finance S.S. Palanimanickam in the Lok Sabha Dec 15 says excise duty evasion to the tune of Rs.269.41 billion ($6 billion) was detected in the period till November last year.

The finance ministry break up says in the year 2003-04, 9,091 cases of excise duty evasion were detected and this accounted for a loss of Rs.94.89 billion.

In 2004-05, as many as 7,927 cases were detected accounting for Rs.42.73 ...

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