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Govt asks Rs 230 cr service tax from Oracle
April, 21st 2009

Oracle India, a provider in IT services and solutions has to pay over Rs 230 crore as service tax.

The government of India has asked the company to pay for the royalty paid to its US parent as franchise fee and for its receivables from services, said a PTI report.

According to the report, the Central Board of Excise and Custom has asked for an explanation from the company for not paying the service tax amount of more than Rs 225 crore along with education cess of about Rs 5 crore for the period between 2003 to 2008.

The Tax department has reportedly alleged that the company had intentionally covered up the facts of providing and receiving impugned taxable services and collection of the impugned value of such taxable services.

Over Rs 141 crore service tax has not been paid by the company on the royalty paid to parent US firm as franchisee fee, about Rs 78 crore is on its income from product and technical support consulting, said the report.

 
 
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