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: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: articles on VAT and GST in India :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARD :: TDS :: cpt :: due date for vat payment
« Service Tax »
 Next steps for the goods and services tax
 Benefits of GST to home buyers In the next lifetime
 GST: Jaitley says yes to cess, no to additional tax for compensating states
 GST to enhance ease of doing business, says Assocham
 Govt sources say cess is a better option than high tax rate
 Goods and Services Tax: There should not be more than three grades of rates, says Chidambaram
 Chidambaram says there cannot be multiple tax slabs in GST
 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

Jet confirms JetLites Rs100 cr tax notice
June, 19th 2008

Jet Airways had acquired Sahara Airlines from the Sahara group last year and rebranded it JetLite

Jet Airways (India) Ltd on Wednesday confirmed a Mint Page 1 story published on 17 June that its low-fare subsidiary, JetLite (India) Ltd, has been asked to appear before the government for non-payment of Rs100 crore in service tax.

In a statement to the Bombay Stock Exchange, Jet Airways said: The Directorate General of Central Excise Intelligence is conducting an investigation into the alleged non-payment of service tax by Sahara Airlines Ltd. Jet Airways had acquired Sahara Airlines from the Sahara group last year and rebranded it JetLite.

The inquiry relates to a period(s) prior to the acquisition of Sahara Airlines Ltd by Jet Airways (India) Ltd on April 20, 2007, the statement said, adding that the liability, if any, for the tax demands rests with the earlier owners of Sahara Airlines.

Kingfisher-Deccan merger gets HC nod

The Karnataka High Court has given the nod for the Kingfisher Airlines-Deccan Aviation merger, according to a spokesman for Kingfisher. The judge has pronounced his order sanctioning the scheme, orally in the court, on Monday June 16, he said. Deccan Aviation is in the process of merging the scheduled airline operations of unlisted Kingfisher Airlines, to create one of the biggest air carriers in the country and pave the way for the latter to fly overseas.

Indias aviation ministry has recommended that carriers, including Go Airlines (India) Pvt. Ltd, IndiGo and SpiceJet Ltd, should be allowed to fly overseas without having to complete five years of domestic services. This is part of the civil aviation policy thats being considered by a panel of ministers, said Maushumi Chakravarty, a spokeswoman of the aviation ministry. The cabinet has to take a decision on this, she said.

India currently stipulates that local airlines must fly five years in the domestic market before getting a licence to start overseas services.

UBI plans to Raise $2 bn in overseas debt

State-run lender Union Bank of India plans to raise as much as $2 billion, or Rs8,580 crore, by selling medium-term notes to overseas investors. The bank has filed documents with the Singapore Stock Exchange for the planned sale, according to a statement sent to the Bombay Stock Exchange on Wednesday. The debt will be sold in phases, the bank said.

Andhra Bank to raise $125 million

State-run Andhra Bank plans to raise up to $125 million through foreign currency loans in a couple of weeks, its top official said on Wednesday. The bank is looking at a 20-22% growth in loans and deposits in 2008/09, chairman and managing director K. Ramakrishnan said on the sidelines of an industry conference. We need to go to the market to meet obligations of high-cost deposits raised last year, he said. The bank has available limit to raise up to $300 million through foreign currency loans, he said.

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 Portfolio

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