Arindam Chaudhuri, Director of IIPM has been arrested by the CGST South Delhi Commissionerate for alleging an undue claim of Central Value Added Tax (CENVAT) of service tax credit of about Rs 23 crore.
Arindam Chaudhuri arrested for tax evasion
Arindam Chaudhuri, director of IIPM, Indian Institute of Planning and Management was arrested by the Central Goods and Services Tax (CGST) by South Delhi Commissionerate on August 21. He has been charged for evading payment of Service tax and for an undue claim of Central Value Added Tax (CENVAT) of service tax credit of about Rs 23 crore. He has been charged under Section 89 of the Finance Act which enlists penalties for evading payment of service tax.
He faced undue claims of Central Value Added Tax (CENVAT) of service tax credit of about Rs 23 crore. Now, he has been sent for the Judicial custody for 14 days. With him, Gurdas Malik Thakur, who is the Director of the company, has also been arrested under the same offences and sent to 14 days’ judicial custody.
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In 2015, IIPM went inoperative when it was found that the institute was offering MBA degrees to students on false simulations. Chaudhuri made a credit entry of CENVAT for Rs 23 crores showing cash shortage to pay the service tax but never showed the amount in the next year’s balance sheet. Thus, by not paying it.
It is not for the first time, he deceived law for the first time. His institute had been in news earlier for similar cases of financial bungling. Earlier on March 14 (2020), he submitted a fake medical certificate when cops asked him to join the probe related to the 2016 case but he was released on bail.
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Delhi Police had registered an FIR in 2015 against IIPM following the complaint of UGC that the institute was ‘misleading, cheating, and fooling’ students as it was not recognised by any regulatory body.
