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GST - MD arrested for collecting but not depositing Rs 15 Cr tax

Published: Jul 08, 2018

By TIOL News Service

BANGALORE, JULY 08, 2018: THE South Bangalore GST Commissionerate today arrested the Managing Director of an auto sector private limited company for alleged non-payment of GST to the tune of Rs 15 Crore.

In a Press Release, the Commissioner, Mr G Narayanaswamy, stated that the officers had collected intelligence that the company had collected GST from his customers between August 2017 to May 2018 but did not deposit the same in the Govt account, in violation of Sec 132 of the CGST Act.

When the officers confronted the MD with evidences, he admitted the lapses. Violations of the provisions of Sec 132 attract imprisonment upto five years. Since it is a cognizable offence, it is also non-bailable.

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