Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: list of goods taxed at 4% :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: due date for vat payment :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: Central Excise rule to resale the machines to a new company
 
 
General »
 Non-performance: I-T dept transfers 245 commissioners
 Income Tax efiling: Tax implications resulting from clubbing of income
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018-regd
  GST: How companies are gaming the system
 Goods And Services Tax transparency: Elimination of added taxes to boost investment in realty
 In a first, Income Tax department to charge govt official under new benami law
 Income Tax Return Filing: 10 common mistakes people make while filing return of income
 Income Tax efiling: A few essential facts for senior citizens to keep in mind
 Pre-GST discounts get Maharashtra 16% more sales tax in three months
 Here’s how self-employed should efile their taxes
 Advance tax given by individuals in June quarter rises more than 40%

British Airways gets Rs 1.44 billion tax notice
July, 29th 2008

UK-based British Airways has been slapped a service tax notice by the Revenue Department asking it to pay the balance of Rs 143.5 crore (Rs 1.44 billion) liability on sale of tickets in India between May 2006 and November 2007.

"We have issued a notice to the British Airways on July 25 intimating the company of its service tax liability," a senior Excise and Customs Department official said. He, however, clarified that the company has already paid Rs 117 crore (Rs 1.17 billion) tax although after a delay.

British Airways officials did not comment immediately when approached.

Airlines to add flights to meet demand | Crude fall may help carriers but not fliers

The official said the company has been issued notice asking it to explain why action should not be taken against it for delay in payment of service tax, while asking it to pay immediately the balance amount of Rs 26.5 crore (Rs 265 million).

Sources said since the airline has already paid Rs 117.17 crore, including interest, which the department says will be adjusted in the total demand made by the tax authorities.

More India business stories | Get the latest Sensex update

The service tax department, under the Central Board of Excise and Customs, demanded payment of Rs 143.5 crore on account of due service tax for selling air tickets during May 2006 to November 2007 period. In addition, tax was also sought on sale of tickets which were issued before May 2006, but were used later.

Sources said the tax evasion was found following a dispute between the Income Tax Department and the airline over payment of tax on engineering and ground services.

In this regard, the Commissioner (Income Tax Appeal) has already upheld the department's decision to impose a penalty of about Rs 4 crore (Rs 40 million) on the company. British Airways has filed an appeal in Income Tax Tribunal against this order, the sources said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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