Mangaluru, Apr 27: Officers of the Central Excise and Service Tax Commissionerate, Mangaluru, have arrested a managing director of a private firm for alleged service tax evasion of over Rs. 1.38 crore.
The managing director was arrested on Tuesday and produced before N. Sunil Kumar Singh, Principal Senior Civil Judge and Chief Judicial Magistrate, Mangaluru, who remanded him in judicial custody for 14 days.
The firm was providing clearing and forwarding services, steamer agency services and custom house agency services, according to a release by Central Excise Commissioner M. Subramanyam here on Wednesday.
The firm, though was providing taxable services, had failed to discharge the appropriate service tax liability.
The service provider has not been crediting the service tax collected from the customers to the government.
“The firm has not been complying with even the basic provisions of the statute. They have will-fully mis-declared the value of taxable services or declared the value as nil in spite of providing taxable services of substantial value,” the release said.
The service tax collected but not paid to the government exchequer for more than six months exceeded Rs. 1 crore, the release said.
“It constituted an offence under Section 89(1)(d) of the Finance Act, 1994 thereby attracting imprisonment extending to seven years in terms of Section 89(1)(ii) of the Act. Further, such offences shall be cognisable as per Section 90 of the Finance Act,” the release said.
Comments
haha Mr Rikaz. media can publish only if department gives name. if they secretly arrest and then send press releases without name what can these poor people can do?
Media doesn't want to publish MD's name...must have paid goosa???
Add new comment