Hyd: company chairman arrested for service tax evasion
March, 28th 2014
Commissioner of Customs and Central Excise and Service Tax, Hyderabad, today said that chairman of a city-based company has been arrested for evading service tax to the tune of over Rs 20 crore.
The department said in a release without naming the person that it arrested the chairman and managing director of Vijay Mining and Infracorp Pvt Ltd for not depositing service tax collected from the customers.
"The company has also filed VCES declaration for some period and has defaulted on paying 50 per cent of the declared amount," the release said.
The accused was produced before a local court and further investigation is going on for assessing the exact service tax liability of the company, it added.