Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Jul 8: An entrepreneur from the city stands arrested for evading payment of Goods and Services Tax (GST) to the extent of Rs 15 crore. As far as Karnataka is concerned, this happens to be the first ever arrest under GST provisions.

Officials of GST commissionerate, city south zone, conducted the raid and arrested the entrepreneur on Friday. He happens to be the managing director of an automobile industry operating at Bommasandra here. On being produced before the magistrate, he was released upon execution of a bond pledging to make payment of the entire due under GST within two weeks.

The central board of taxes has been monitoring payment of GST since its implementation a year back. After finding that an automobile industry had huge tax dues, the officials had begun to closely monitor the turnover, tax collection, payment etc. Since GST was implemented, the authorities have been monitoring payment of GST and paying more attention to those cases where dues are huge. Top officials in the department said that they continue to keep a watch on GST payment and will take strong steps for recovery wherever the concerned default in making payment.

G Narayanaswamy, commissioner of central taxes, said that the prevention unit of the city south commissionerate had arrested managing director of an automobile unit for tax evasion and that he has confessed to have committed this mistake. He said that further action is being taken in this direction.