Singapore
Home > Breaking News > Singapore > Story
Dec 4, 2009
Trader accused of GST fraud
By Elena Chong, Courts Correspondent
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start --> A BUSINESSMAN was charged in court on Friday with 62 counts of evading Goods and Services Tax of about $2 million. This GST fraud case is the biggest to be brought to court to date. Mahesh Kumar Goenka, 53, a director of two companies and also owner of another business dealing with electrical and electronic goods, allegedly made false entries in the GST returns which resulted in the undercharging of taxes between 2004 and 2007. The companies are Lalasis Trading and Lachem Trading, and the sole proprietorship, Zirco International. Nine of the 62 charges accused him of omitting output taxes in Lalasis's GST returns with intent to assist the company to evade tax. If convicted, he faces a fine of up to $10,000 and/or a jail term of up to seven years plus a penalty of three times the amount of tax undercharged on each charge. He is out on $200,000 bail. His passport was impounded. The case will be mentioned on Jan 8.
Home > Breaking News > Singapore > Story
Dec 4, 2009
Trader accused of GST fraud
By Elena Chong, Courts Correspondent
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start --> A BUSINESSMAN was charged in court on Friday with 62 counts of evading Goods and Services Tax of about $2 million. This GST fraud case is the biggest to be brought to court to date. Mahesh Kumar Goenka, 53, a director of two companies and also owner of another business dealing with electrical and electronic goods, allegedly made false entries in the GST returns which resulted in the undercharging of taxes between 2004 and 2007. The companies are Lalasis Trading and Lachem Trading, and the sole proprietorship, Zirco International. Nine of the 62 charges accused him of omitting output taxes in Lalasis's GST returns with intent to assist the company to evade tax. If convicted, he faces a fine of up to $10,000 and/or a jail term of up to seven years plus a penalty of three times the amount of tax undercharged on each charge. He is out on $200,000 bail. His passport was impounded. The case will be mentioned on Jan 8.
