Hyderabad: Megasoft Limited has paid 5 crore out of 28.6 crore Goods and Services Tax (GST) which it had allegedly evaded. The payment comes two weeks after the arrest of its two senior officials.
According to GST department (Rangareddy) the company admitted its liability and has agreed to pay the remaining amount soon. Following this, its executive director-cum-CEO Sunil Kumar Kalidindi and CFO Sridhar Thalalthoty were released on bail.
The GST payment relates to a project undertaken by Megasoft Limited after it was given land by TSIIC in Nanakramguda. In 2017, Megasoft entered into a development agreement with Darshitha Infrastructure Private Limited, a Salarpuria Sattva Group company, for construction of ‘Sattva Knowledge Capital’ offering office space of 2.2 million sq ft.
While Darshitha is said to have paid its share of taxes on construction service rendered, Megasoft was accused of not paying GST. The department is now also examining records of Darshitha to check the veracity of payment.
Sudhakar Reddy Udumula is the Editor (Investigation) at the Times...
Read MoreSudhakar Reddy Udumula is the Editor (Investigation) at the Times of India, Hyderabad. Following the trail of migration and drought across the rustic landscape of Andhra Pradesh and Telangana, Sudhakar reported extensively on government apathy, divisive politics, systemic gender discrimination, agrarian crisis and the will to survive great odds. His curiosity for peeking behind the curtain triumphed over the criminal agenda of many scamsters in the highest political and corporate circles, making way for breaking stories such as Panama Papers Scam, Telgi Stamp Paper Scam, and many others. His versatility in reporting extended to red corridors of left-wing extremism where the lives of security forces and the locals in Maoist-affected areas were key points of investigation. His knack for detail provided crucial evidence of involvement from overseas in terrorist bombings in Hyderabad.
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