STOCK MARKET BSE NSE

Firm Head Held for Evading Service Tax

Published: 27th March 2016 04:41 AM  |   Last Updated: 27th March 2016 04:41 AM   |  A+A-

CHENNAI: The director of a manpower supply firm in Alandur was arrested after the company evaded service tax of `5 crore.

G Ravindranath, commissioner of service tax, said the firm, which supplied manpower to various companies, had been avoiding paying to the exchequer the service tax collected since 2012.

Not only that, it floated dummy entities as sub-contractors and created fake invoices to avail of input tax credit fraudulently. The firm had been given several chances to comply after the case was probed by Survey, Intelligence and Research wing of the department but it did not respond.

The director was produced before the additional chief metropolitan magistrate, Economic Offences Court, Egmore, and remanded in judicial custody till April 6. “The offence is grave and entails a jail term of up to seven years,” said Ravindranath.

The commissioner also warned tax defaulters, who had been dodging summons, that his department was taking legal recourse in all cases of deliberate and willful disobedience.

Stay up to date on all the latest Chennai news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp