Tax Evasion over Rs 5 crore is a non-bailable offence under GST Regime

Under the Central GST (CGST) Act, tax evasion of over Rs 5 crore under the GST regime will be cognizable and non-bailable offence with the police having authority to make an arrest without a warrant. If a person is arrested for a non-cognizable and bailable offence, the Deputy/ Assistant Commissioner of CGST/SGST can release him on bail and he will be subject to the same provisions as an officer in-charge of a police station under section 436 of the Code of Criminal Procedure, 1973. The government has set ambitious target date of July 1, 2017 for roll out of the GST, which will subsume indirect taxes such as central excise, service tax, VAT and other local levies.

Month: Current Affairs - April, 2017