Service tax evasion worth Rs 17 crore unearthed in Kolkata

Office of the Chief Commissioner Service Tax, Kolkata Zone has unearthed service tax evasion worth Rs 17 crore of an IT firm and arrested its CFO in this connection.

Kamal Kishor Poddar , the CFO of IKF Technologies Limited with its office at Sector V in Salt Lake was arrested and   produced before the ACJM court. He was remanded in judicial custody till January 25. Efforts are being made to trace the directors of the company, namely, Nandipati Venkata Simhadri, Sunil Kumar Goyal, Umesh Bhat and Nidhi Sharma who are not in town and recover the service tax dues.

The company is providing various software and internet services to the international and domestic clients. They have collected Rs 17 crore but did not deposit the service tax to the  government exchequer. The amount of Rs 17 crore includes an accepted liability Rs 3.46 core declared under VCES- 2013 for the period October 2010 to December 2012 of which only Rs 1.29 crore was paid as first installment and after that the firm stopped payment. After December 2012, the firm defaulted in discharge of its service tax liability of around Rs 15 crore upto march 2016.