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: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: due date for vat payment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TDS :: list of goods taxed at 4% :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India
« Service Tax »
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST
 Advanced Budget date: Absence of a GST rate may present estimation challenges
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant

Service Tax Dept freezes AI bank accounts again
January, 13th 2012

The Service Tax Department has once again frozen the bank accounts of the national carrier Air India for non-payment of dues running into a little over Rs 300 crore.

This is the second time in two months that the Central Board of Excise and Customs department has frozen the account of the national carrier.

In December, the department had frozen as many as 11 accounts of Air India and 10 of the private carrier Kingfisher Airlines, which were later de-frozen following part payments by the airlines.

The development comes even as bankers have reportedly met today to consider a fresh CDR proposal for the debt-laden flag carrier.

"Yes, we have frozen 11 bank accounts of Air India as they have not made any payment after the part-payments done last month," a senior official of the Central Board Excise and Customs, who wished not to be identified, told PTI here this evening.

As to how much dues are pending, the official said, "after the Rs 8 crore payment AI had made last month, nothing has been paid."

Early this week, Central Board of Excise and Customs (CBEC) chairman SK Goel had said that the debt-ridden Kingfisher Airlines and Air India owed the government a total of over Rs 360 crore towards service tax dues.

"While Kingfisher Airlines has paid Rs 20 crore towards service tax for December and some arrears, the airline still owes Rs 60.33 crore," Goel had said.

The KF had paid Rs 20 crore in January, Goel had said adding the carrier has promised to clear all dues by March-end.

AI carrier is seeking an equity infusion of Rs 6,600 crore from government that will enable it to pay interest on fleet acquisition and to meet other expenses including salaries to its 30,000 strong employees for the past two months and allowances for the past five months, which forced a section of cabin crew to strike work early this week.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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