Not only illegal profiteering, sugar mafia also earned billions in tax evasion. Sugar Mills owners keep double accounts, tax evasion of crores has come to light.
According to the details, after profit-taking and subsidies, a new tool for sugar mills owners to make money is revealed and they are tax evasion.
The owner of every sugar mill was found to be involved in tax evasion of billions, not billions. This disclosure came to the FIA when their records were captured and examined. Almost every mill owner has created an external and an internal account, and through these double accounts the issues of making and selling sugar in the market are being meticulously dealt with.
External account sales of sugar are taxed by showing millions of rupees while in fact the sugar sold to producers and secret dealers is worth billions of rupees, all of which is kept in the internal account and then the money. Transferred to different bank accounts.
When the investigating commission checked both accounts of one mill owner, it was found that the sugar was actually sold to the dealer for Rs 48 crore while the external account showed the sugar to the dealer for only Rs 36 lakh. Thus, the mill owner did not disclose 47 crore 64 lakhs and instead of 48 crores, he taxed only 36 lakhs and this was only one day entry for one mill. If the same ratio is calculated over the last 5 years, the amount goes to billions of rupees.
