A city-based businessman was arrested on Friday for evasion of goods and services tax tune the tune of Rs 15 crore by the officers of the Preventive Unit, Central Taxes, Bengaluru South GST Commissionerate.
The arrest was carried out based on specific intelligence gathered by the said officers which had indicated that the accused businessman had charged and collected applicable GST from his customers during the period August 2017 to May 2018 but had failed to remit the same to the exchequer in time, thereby contravening the provisions of Section 132 of Central Goods and Services Tax Act, 2017, a statement issued by the commissioner of Central Tax G Narayanaswamy said.
On confronting the accused with the documentary evidence gathered by the officers during the investigation, he admitted his lapses and hence he was arrested immediately under the provisions of Section 69 of the CGST Act, 2017.
Offences under the Section 132 of Central Goods and Services Tax are punishable with imprisonment up to five years and are non-bailable, the statement said.
Further investigation is under progress.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks