Posted on January 5, 2016
Officials from the Directorate General of Central Excise Intelligence (DGCEI) arrested the executive chairman of KSR Marine Services Pvt Ltd (Akash Dredging and Marine Services Pvt Ltd) on the charge that the firm evaded paying service tax.
The company, which is engaged in providing dredging services, had evaded payment of service tax of over Rs 3.5 crore, said DGCEI assistant director C Satyanarayana. The amount was billed and collected from the clients of the company, but the same was not credited to the account of the central government. The entire amount was used for business purposes and the executive chairman was aware about the tax evasion.
The officials produced the executive chairman before the Fourth Additional Chief Metropolitan Magistrate Court on Wednesday and the court remanded him to judicial custody till January 13.
