Biggest Ever Tax Evasion, Shree Cements Accused of Evading Rs 23K Tax

New Delhi: Raids in multiple locations of Shree Cement Limited have revealed an alleged tax evasion of Rs 23,000 crore by the company. Reports claim that it is one of the largest tax evasion in the country, till now.

The tax-related raids against this cement company having its headquarter continued for the second time this week.

According to NDTV, the raiding tax officials recovered forged documents. The deductions claimed by the company, which is one of India’s top three cement producers, are false, sources added.

The sources say that the company siphoned off Rs 1200-1400 crore every year in tax evasion. Because of it, both the centre and the state government suffered a huge loss of revenue.