The Andhra Pradesh State Directorate of Revenue Intelligence (APSDRI) imposed a heavy penalty of ₹34 crore for tax evasion on companies involved in the alleged A.P. Fibernet scam.
M/s Fastlane Information Technologies Private Ltd got a demand for tax along with interest and imposing of penalty for violation of the provisions of APGST Act, 2017 from the APSDRI. M/s Fastlane was ordered to pay ₹34,01,43,881 (₹34.01 crore) towards tax, interest and penalty.
GST is indirect tax, i.e. the seller has to collect the GST from the buyer and the same has to be deposited with the Government. But, in this case M/s Fastlane had collected the GST from its buyers, but allegedly it did not deposit the same with the government within the stipulated time. Thus, the penalty was imposed.
