YES Bank evaded Rs 330 mn tax via 'cut and pay' scheme: GST authority

The anti-evasion wing of the  goods and services tax  (GST) department in Mumbai has alleged that  YES Bank  evaded central GST (CGST) dues, through a ‘cut and pay’ scheme, to the tune of Rs 330 million. The bank, however, said it had consulted tax experts who confirmed its interpretation of the law was correct and tenable. A  YES Bank  spokesperson stated in an email…