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Draft GST law envisages harsher penalties for tax evaders

An evasion of Rs 25 lakh could attract prison of up to a year and a fine; jail term could go up to 3 years if evasion exceeds Rs 50 lakh

Sudipto Dey  |  New Delhi 

Tax evaders could be exposed to harsher penalties, including a lower threshold for arrest provisions, according to the draft model goods and services tax (GST) law. A tax evasion of Rs 25 lakh could attract prison sentence of up to one year and a fine. The sentence could go up to three years if the evasion exceeds Rs 50 lakh. Non-bailable arrest with imprisonment of up to five years could follow if the evasion value exceeds Rs 2.5 crore, apart from fines. Ranjeet Mahtani, partner, Economic Laws Practice, said: “These provisions might affect investor confidence and raises some ...

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First Published: Fri, June 17 2016. 00:22 IST
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