CHENNAI: Two Southeast Asian nationals - managing director and general manager of a Sriperumbudur-based company engaged in manufacture of automotive parts - were arrested on Monday for Goods and Service Tax evasion worth Rs 40 crore, according to Commissioner of GST and Central Excise, Chennai Outer, Ravindranath.
He said they were arrested as the company had made taxable supplies and collected GST but failed to deposit tax with the government from July 2017 onwards. The company has not filed statutory returns for more than 20 months. Despite several summons, it has failed to cooperate with the investigators, he said.
Ravindranath said the managing director and the general manager of the company were produced before the Economic Offences Judge-I, Egmore and remanded in judicial custody.