Property developer held for evading service tax; gets bail

A top city-based property developer was held on charges of evading service tax of about Rs 1.5 crore, an official said today.
However, the developer, held last night, was let out on conditional bail after he offered to pay the amount.
The developer allegedly evaded service tax of about Rs 1.5 crore he had collected by renting immovable properties.
He has been evading the tax since April 2011, the official said.
Though the builder has taken registration under the service tax law, he had neither filed the tax returns nor deposited the service tax collected from his clients, the official told PTI.

Despite enough opportunities given for complying with the law, the developer did not remit the amount, he said.
As per the terms of the conditional bail, he remitted Rs 50 lakh immediately.
He has to remit another Rs one crore by May 21 and would have to come to the office and sign the register on a daily basis, the official said.