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VAT, state tax offences should attract PMlA charges: SIT

PNS

Violation of state tax laws like VAT should be made a predicate offence attracting action under anti-money laundering laws by agencies like ED which will act as a deterrent against economic crimes, the Vice Chairman of SIT on black money said on Saturday.  The Government, only last year, has widened the category of predicate offences and included offshore tax evasion as a criminal offence based on which the ED has been empowered to slap the stringent Prevention of Money laundering Act (PMlA) against offenders.