New Delhi: Dolo-650, a drug commonly used in the treatment of fever, is available in every household. After Corona epidemic, this drug started to be used more. Micro Labs Limited Company (Micro Labs Ltd Company), the manufacturer of this medicine, got a lot of profit during the corona epidemic. But now the company has been raided at 36 places in the state with allegations of tax evasion. It is being said that instead of promoting Dolo-650 by the company, a free gift of 1000 crores was given to the doctors. Therefore, the Income Tax Department has raided Micro Labs Limited, the company that manufactures the most sold drug Dolo-650 during the Corona period.
ED raids in 9 states
Micro Labs Limited manufactures a wide variety of medicines. Also this company does marketing. The company’s fever drug Dolo-650 is one of the best-selling drugs. Micro Labs Limited Company’s business is spread across 50 countries. On July 6, the Income Tax Department raided 36 locations of the company in 9 states. The Central Board of Direct Taxes (CBDT) says that many documents and digital data were found during the raids, which have been seized.
ED also found documents with digital data when it raided the company. In which a fee of 1,000 crores has been given to gift doctors by the company. Along with this it was shown as unallowable expenditure in the company’s accounts. Preliminary evidence to the ED indicates that the company gifted fees to doctors for sales and promotion.
300 crore tax evasion?
An investigation by the Income Tax Department has revealed that Micro Labs has evaded taxes worth around Rs 300 crore. The company is also accused of violating Section-194C of the Income Tax Act. During the raids, the Income Tax Department recovered Rs. 1.20 crore in undisclosed cash and Rs. 1.40 crore worth of jewelery was found. It has been confiscated.
It is worth mentioning that the price of this drug may be low, but the plan that the company made to earn from it, has become a topic of discussion today. According to a guess, the company made this plan for sales and promotion. During the corona epidemic, there was such a boom in the sale of this drug that it became difficult to find the drug in the market. In 2020, 350 crore tablets were sold after the outbreak of Kovid-19 cases in the market and the company earned around Rs 400 crore in a year.