prpri Tax evasion charges against Philips, TVS Motor- Central Excise Department Tax evasion charges against Philips, TVS Motor- Central Excise Department

The Central Excise Department today said its has slapped a show-cause notice on Philips Electronics for allegedly evading excise duty to the tune of Rs 22 crore. Central Excise Commissioner (Chandigarh) H K Thakur also said two-wheeler major TVS Motors, which has a plant in Nalagarh in Himachal Pradesh, has not paid National Calamity Contingent Duty (NCCD) amounting to Rs 10 crore, thus evading tax payment.

Confirming the company getting a show-cause notice, a spokesperson of Philips Electronics, however, said, “Prima facie the issue raised is debatable and not a case of any evasion of duty/taxes.”

“In the spirit of being transparent and open about our transactions, we will fully co-operate with the tax authorities and will revert with our response within the 30 days period as specified in the notice,” the spokesperson added.

Chennai-based TVS Motors did not respond to queries.

Chandigarh, Oct 8

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