Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TDS :: form 3cd :: due date for vat payment :: empanelment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Service Tax »
 GST on a knife-edge as states act tough
 Parliament Winter Session: Govt keen on proper discussion on GST Bills
 Service Tax revision to make digital content expensive: Here’s how it will impact you
 GST Council may reduce tax slabs in future: CBEC chief
 Govt to waive service tax on card transactions up to Rs 2,000
 Recovery Of Tax Under Model Gst Law
 Income Tax officials hunt for Mumbai’s ‘ghost’ assessee
 GST delay to impact Budget
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley
 India’s E-Service Tax Will Add To Foreign Content Providers’ Woes
 GST Council to discuss model laws, tax jurisdiction today

Vijay Mallya seeks exemption from court appearance in service tax dues case
December, 15th 2014

Kingfisher Airlines chairperson and managing director Vijay Mallya has sought exemption from appearance before a magistrate in Mumbai in connection with a cheating case filed by the service tax commissioner against the airline for failing to pay Rs 33 crore, due since 2011, to the central government.

The Esplanade court on Friday gave Mallya and the airline CEO Sanjay Aggarwal a "last chance" to appear in court on January 9 and granted provisional bail of Rs 50 lakh till that date to A Raghunathan, chief financial officer and T R Venkatadri, assistant vice president of the airlines, who were also named as accused. The court, said Advait Sethna, counsel for the government department, also directed that Raghinathan and Venkatadri cannot leave the country without prior court permission, a condition which the service tax authorities had sought to be imposed.

The chief metropolitan magistrate at the Esplanade court in Mumbai heard arguments all day on Friday in the case. Raghunathan and Venkatadri had sought bail in a complaint filed by Sarika Shah, assistant commissioner of service tax, Mumbai against Kingfisher Airlines Ltd, Mallya, Aggarwal and them. The complaint was filed in December 2012. The magistrate, however, said he would have to hear the bail plea on January 9 after the service tax authorities files their reply and granted them the provisional bail till then.

The case of the service tax department is that the Airlines failed to pay its service tax dues worth Rs 79 crore — collected from customers — between April and Noveber 2011 and also failed to file service tax returns for April-September 2011 on its due date. The airline made some adhoc payment towards the unpaid dues, the department said, adding that however Rs 33 crore remains unpaid.

"Ample opportunities were given to the airline to pay the service tax but time and again it defaulted on the arrears," said the complaint. The court was told that the Kingfisher Airlines CEO and MD said that since the Airlines was "facing acute financial crises," they were "constrained to utilise all amounts including service tax collected to make critical payments to fuel suppliers and airports and essential spares for aircraft safety to keep the airline flying and protect its Air Operative Permit." They had offered to make the payments soon.

The diversion of the money collected on behalf of the central government for day-to-day activities of the airline, however, amounts to an offence of criminal breach of trust and cheating under the Indian Penal Code too as well as an offence under the Finance Act attracting punishment of up to three years' imprisonment, said the complaint which sought orders to summon the accused.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions