Examine the implications regarding the bailability and quantum of punishment on prosecution in respect of the following cases pertaining to the month of August, 2025 under the Central Goods and Services Tax Act, 2017: Ni

Failure to pay any amount collected as tax beyond 3 months from due date is punishable with imprisonment upto 5 years and with fine, if the amount of tax evaded exceeds ₹ 500 lakhs in terms of section 132(1)(d) read with clause (i) of section 132(1). Prosecution: Since the amount of tax evaded by 'Nishant' exceeds ₹ 500 lakh (₹ 750 lakh - ₹ 80 lakh): 'Nishant' is punishable with an imprisonment for a term which may extend to 5 years. Also liable to fine. Bailability: Offences where the amount of tax involved exceeds ₹ 5 crore are cognizable and non-bailable under section 132(5).