The GST and Central Excise departments have arrested two foreign nationals on charges of GST evasion. The two individuals, the managing director and the general manager of a Sriperumbudur-based automotive parts manufacturing company, were arrested after a detailed investigation.
The names of the company and the arrested persons were not revealed by the authorities. They have been remanded to judicial custody till July 2, 2019.The company is accused of not depositing GST with authorities despite collecting it from customers. The tax liability comes to about Rs 40 crore. The company has also not filed statutory returns for more than 20 months.
The arrest was made after the managing director and other officials of the company failed to cooperate with the investigators despite several summons. Both the MD and GM of the company have accepted the statutory tax liability and conceded the fact that they collected GST from customers.
Source: https://www.business-standard.com/article/economy-policy/gst-evasion-authorities-arrest-two-foreign-nationals-in-chennai-119062501372_1.html
