Punjab govt starts auctioning properties of GST, VAT defaulters
CHANDIGARH, June 20 -- Finance minister Harpal Singh Cheema on Friday said that the state government has begun auctioning properties of Value Added Tax (VAT) and Goods and Services Tax (GST) defaulters as part of a drive to recover long-pending tax dues, with the first round of auctions in Mohali and Jalandhar yielding significant recoveries.
Cheema said the excise and taxation department successfully conducted three property auctions against tax defaulters who failed to clear outstanding liabilities despite repeated notices and opportunities to settle their dues.
According to the minister, a property belonging to Sumit Engineering in Mohali was auctioned for Rs.13.22 crore on June 19, while a property of MR Rice Mills in Shahkot, Jalan...
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