Aviation Company CFO arrested for Service Tax Evasion

Delhi Service Tax Commissionerate arrested the Chief Financial Officer(CFO) of an Aviation Company on last Saturday, 18th January, 2014 for evasion of service tax amounting to more than Rs. one crore. The Company provides helicopter chartering services. The concerned company is also suspected to have fraudulently availed CENVAT Credit of more than Rs. 30 lakhs. In addition, the party is also facing departmental proceedings in a Show Cause Notice for Rs. 3.9 crore for short payment of Service Tax, for a previous period. This is the second arrest by Delhi Service Tax Commissionerate in the current fiscal.