Ujjain: Sleuths of the Central Excise and Customs Department raided the premises of a Dewas Road Industrial area located pharmaceutical company, Bochem Healthcare Private limited.
Officials have reportedly unearthed a major bungling in import and excise duty worth crores of rupees by the company.
According to information available, the raids started on the evening of Sunday and continued till late Monday.
Teams of Indore Excise and Customs Department reportedly seized a consignment of raw material for bulk- drug manufacturing along with papers. Sources in the department said the pharmaceutical company was involved in evasion of duty and revenue to the government.
Government give exemption in excise duty to companies who have annual turnover below Rs 1.5 crores, but this company was escaping its excise duties even though it was having turnover of more than 1.5 crores. When contacted, excise department sourcs said, details about the raids would be provided by the head office soon. However, some other officials disclosed that the company owners had admitted tax evasion and agreed to pay the penalty.