As per finance bill 2013, there
is a provision that if somebody is found guilty to pay service tax or excise,
it may lead to arrest. The finance bill has been introduced in Lok Sabha by
Finance Minister Mr. P Chidambaram.
According to the provision
in finance bill, any evasion of excise duty or custom duty over Rs. 50 Lakh is
non- bailable and cognizable under the new provision.
In service tax, anybody
who failed to deposit service tax amount over Rs. 50 lakh may lead to
imprisonment up to 7 years.
Section 91 is proposed to
introduce in finance bill which provides power to arrest for specified offenses
with the first to the offense of non-paying service tax collected. But the
arrest would be only the rank of Superintendent of Central Excise or above.
In custom act too there
are four offenses which are non-bailable under section 135 of custom act. This includes
import and export of the goods which are not declared under the custom act
provision and the value of the goods is above Rs. 1 crore.
There is also a provision
in custom act with the duty drawback. If anybody does the fraud with duty
drawback scheme and the amount of drawback or the exemption over Rs. 50 lakh,
it would also be a non-bailable offense.
Keywords-finance bill 2013,finance bill,service tax under finance bill,service tax in finance bill 2013,excise in finance bill 2013,what is finance bill,features of finance bill 2013
