HC grants bail to man held for GST evasion | Madurai News – Times of India

Clipped from: https://timesofindia.indiatimes.com/city/madurai/hc-grants-bail-to-man-held-for-gst-evasion/articleshow/83155474.cms

Madurai: The Madras high court on Tuesday granted bail to a businessman, who was arrested for evasion of GST to the tune of Rs 13.9 crore in Tuticorin district. The court was hearing the bail petition filed by Giri Ram J who was arrested on April 15. He was booked under sections of the Central Goods and Services Tax Act.
The case of the prosecution is that the petitioner is one of the directors in two stevedore companies based at Tuticorin. The first company has collected GST from its customers during 2018-19 and 2019-20 for Rs 4.6 crore and the same was not paid to the government. The company has also availed ineligible excess input tax credit worth about Rs 2.5 crore without proper documents. Similarly, the second company has also failed to pay Rs 4.9 crore GST amount collected from its customers during the years 2018-2019, 2019-2020 and 2020-2021 and also fraudulently availed input tax credit worth about Rs 1.8 crore without proper documents.
The judge said that judicial custody of the petitioner is not going to serve any purpose, more particularly, when he is ready to pay Rs 1.5 crore towards liability as well as two of the directors are enjoying the benefit of not to arrest order. Hence, the judge granted bail to the petitioner by directing him to deposit Rs 1.5 crore to the authorities.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s